Unfair Contract Terms - FSA Visit Countdown
Unfair Contract Terms
Welcome to the second installment in our IFA campaign notes on Unfair Contract Terms when preparing for your FSA visit ....
2. Unfair Contract Terms - Giving clients a clear view
Why are 'Unfair Contract Terms' relevant to IFAs?
The FSA is increasingly concentrating on what it perceives as unfair contract terms for clients of regulated firms.
It is a well-known fact that contract terms form a very large part of the Treating Customers Fairly TCF initiative.
It won't happen to us? The FSA will not read our terms that closely .....
Yes they will. We have had first-hand experience of the FSA questioning the terms in client contracts. We fought and negotiated to keep a penalty 'fine' in our 'terms and conditions of business', ooops ............ sorry, we mean 'Client Agreement' as they are supposed to now be called.
FSA Publication: Fairness of Terms in Consumer Contracts
In May 2005 the FSA published a document called Fairness of Terms in Consumer Contracts. Whilst the document was published almost three years ago there seems to be a very big push regarding the fairness of terms, especially when linked to firms treating customers fairly.
What are in these Unfair Contract Terms campaign notes?
- Unfair Terms in Consumer Contracts Regulations Explained
- Changing your Terms and Conditions
- Tips for fairer contract offered by Regulations
- Tips from the FSA
- Our tips for avoiding unfair contract terms
- Our opinion on avoiding unfair contract terms
Useful links:
