Client: Sesame

Dear

TCF; it’s most definitely time to get a grip. But of what?

In a couple of months time (March 31 XXXX to be precise) the FSA expects your firm to have implemented a TCF policy. Forgetting the timescale for the moment, the other problem is that this particular initiative is fundamentally different to any that have come before.

On this occasion, rather than the regulator setting out the rules, you’re expected to write them for yourself. For most advisers that’s a far from easy task. Where do you start? Which areas should be covered? How far do you go? And what does the word ‘fair’’ actually mean in the context of mortgage advice?

Evaluate your firm’s strengths and weaknesses in a matter of hours
We’ve grabbed the bull by the horns and developed a starting point for you, in the form of an online TCF Evaluation Tool. It’s too early for us to claim that the tool is the definitive guide to the subject, but it does list the range and types of issues that the FSA is concerned with. The tool will help you identify any grey areas in your firm’s processes and allow you to record how you intend dealing with them. You’ll get a good idea of what’s involved if you take a look at our TCF booklet enclosed. In there you’ll see two sections taken from the online tool.

It’s no exaggeration to say that you could have a much clearer view of your firm’s position and make real progress on the TCF issue by spending just a couple of hours on line – here’s the address: www.sesame.co.uk/XXXXXX. (On a less positive note, the website also has a case study on the reasons why a firm was found wanting and subsequently penalised by the IFA.)

TCF and beyond…
TCF is just one aspect of regulation where we can take some of the pressure off you – here are some other areas where our involvement could help put your mind at rest:

• Systems and controls audits
• Attendance at FSA visits
• Telephone-based compliance advice
• Advertisement checking service
• Compliance manuals and ‘How to Guides’
• Approved Forms and Templates
• Practitioner forums

If you would like to hear how our compliance and regulatory services could make life a little easier for you, then please call 0845 122 1515 and we’ll be pleased to tell you.

To access our TCF tool on line go to www.sesame.co.uk/XXXXXX, or please speak to one of our Business Managers – the number to call is XXXX XX XX XX.

Yours sincerely

XXXX
Chief Executive Officer