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TCF Governance Management Responsibility
Under the **Treating Customers Fairly (TCF)** framework, who holds the ultimate responsibility for embedding a fair treatment culture within an FSP?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The individual representatives only.
- b) The external Compliance Officer.
- c) The Board of Directors and Senior Management of the FSP.Correct
- d) The FSCA regulator.
Why this is the answer
TCF is a top-down regulatory approach. Outcome 1 (Fair Culture) places the primary and ultimate responsibility on the FSP's Board and Senior Management to create and maintain a culture where treating customers fairly is central to the business.
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