Treating Customers Fairly (TCF) is the legislative and regulatory embodiment of a fair and more transparent consumer environment, and promotes more efficient and equitable financial services. Liberty seeks to differentiate itself in the market by providing products that customers perceive to have value. It is our responsibility to balance shareholder value and customer fairness in the creation of customer value. By adopting a customer-centric approach to our business and the execution of our strategy, we seek to internalise TCF as part of our culture.

By using the TCF outcomes to inform our customer principles, we have embedded TCF across the organisation, elevating it beyond regulatory compliance.

Six core consumer outcomes of TCF

Outcome 1

Customers can be confident that they are dealing with firms where the fair treatment of customers is central to the firm culture.

Outcome 2

Products and services marketed and sold in the retail market are designed to meet the needs of identified customer groups and are targeted accordingly.

Outcome 3

Customers are given clear information and kept appropriately informed before, during and after the time of contracting.

Outcome 4

Where customers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5

Customers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and what they have been led to expect.

Outcome 6

Customers do not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint.