European Institute of Management and Finance | eimf Talk: Treating Customers Fairly: Where it came from and where it’s going to
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eimf Talk: Treating Customers Fairly: Where it came from and where it's going to

eimf Talk: Treating Customers Fairly: Where it came from and where it’s going to

 

What are the eimf Talk events?

 

eimf Talks are free training events that generate knowledge and discussions on innovative and technical know-how for the Financial and Professional Services Sectors. Through the eimf Talks, we thank the local community for their continuous support, by contributing to the strategic corporate and professional development of our region.

 

 

About this eimf Talk

 

Treating customers fairly seems so obvious. Yet, it has generated more “compliance ink” around the world since 2000 than almost any subject.

 

This talk will explore where the idea came from, what it is about, where it has gone (notably MiFID 2) and where it is going in the future. Apart from explaining the origins of the “TCF” idea, the talk will explore the areas where a seemingly innocent concept has gone on the rampage: fair pay-outs to customers, product governance, increased awareness of financial promotions and other customer communications, renewed interest in complaint handling and one of the great arguments about management information.

 

 

Topics

 

Treating customers fairly – its origins

  • The murky disagreements about policyholders’ reasonable expectations
  • Financial services scandals around the world
  • Original uses of regulation to control “conduct of business” not the business itself
  • UK Financial Services and Markets Act & the FSA now FCA Principles
  • The effects of 2008

 

What does it mean?

  • The FSA’s Six TCF outcomes
  • Service delivery – meeting expectations
  • What doesn’t it mean – customer satisfaction

 

Where has it been?

  • Fairer pay-outs – removal of company discretion
  • Checking the service proposition – does the IT work properly?
  • Product governance – gradual emergence – MiFID 2 to the ESMA measures on CfDs
  • The interlocking of financial promotions and product governance
  • Complaint handling – from MiFID 1 to MiFID 2 – from the IMD to IDD
  • The fairness filter – the Law on the Ombudsman in Cyprus and UK’s FSMA
  • Irresponsible lending
  • Management information – proving that a firm is treating customers fairly

 

Where is it going?

  • Protecting consumers from their own weaknesses – the limits of regulation and behavioural economics
  • TCF for wholesale businesses and business customers – interest rate hedging products
  • Access to financial services issues
  • The European Directive focus
  • Product interventions

 

 

Who Should Attend

 

The programme is ideal for:

 

  • Compliance Officers and Staff
  • Complaint handlers
  • Product Development Staff and Technical specialists involved in product development
  • Sales, Marketing and Business Development Executives and Staff
  • Customer Relations and Customer Service Staff
  • Risk Managers
  • Lawyers and Legal Professionals
  • Financial Consultants
  • People generally interested in the developments of the financial services sector