FTAdviser.com

Advertising

The launch of the podcasts, with compliance expert Branko Bjelobaba, coincides with the Financial Services Authority (FSA) announcement that only 13 per cent of firms were making effective use of management information to measure fair treatment of customers.

The regulator is now urging all firms to take action to identify and start using TCF MI.

Bjelobaba, who is the head of regulatory consultancy Branko, said: "Only this week the FSA has published an update on TCF which shows that only 13 per cent of the relationship managed firms that they had assessed had met the March deadline.

"The FSA say that 'we expect all firms to undertake a significant amount of further work with a great deal of energy to ensure that they meet the December 2008 deadline'.

"The business and people running it must have a deep desire to want to treat their customers fairly and the FSA this year with its deadlines are going to make sure this happens. Sitting back and doing nothing is not an option."

CII director of policy and public affairs David Thomson said this initiative illustrates the CII's commitment to raising the levels of trust and confidence in the insurance and financial services sector in what they deliver.

Thomson said: "TCF is a major regulatory challenge and our members need practical help and support to get them through the process."

The launch of the podcasts comes a week before the Personal Finance Society TCF conference, in association with Clerical Medical, to be held on 10 July at the CII Great Hall in London.