2017年-FCA英国金融行为监管局_tr16_3_fair_treatment_for_consumers_who_suffer_unauthorised_transactions_3页_177kb

Regulator Assessment Summary: TR16/3 - Fair Treatment for Consumers Who Suffer Unauthorised Transactions

Core Content Overview

This document is an assessment of the FCA's thematic review (TR16/3), titled "Fair treatment for consumers who suffer unauthorised transactions," conducted on 13 March 2017. The review aimed to evaluate whether consumers were being treated fairly in the context of unauthorised transactions and whether existing consumer protections under the Payment Service Regulations 2009 and Consumer Credit Act 1974 were effective in achieving fair outcomes.

The review was initiated in July 2015 and applies to the entire UK. It did not involve the implementation of the "Cutting Red Tape" review. The primary focus was on assessing firms' compliance with existing regulations and identifying areas where improvements could enhance customer treatment and regulatory effectiveness.

Main Findings and Key Points

• Firms' Compliance Status: The review found that most firms were meeting their legal requirements and were making good efforts to deliver fair outcomes for customers.
• Customer-Centric Approach: Firms generally tended to err on the side of the customer when reviewing claims of unauthorised transactions.
• Areas of Good Practice: The review highlighted several areas of good practice, including:
  • Fraud prevention
  • Customer communications
  • Oversight of unauthorised transactions
• Complex Legal Requirements: Assessing claims of unauthorised transactions requires firms to make finely balanced judgements and implement complex legal requirements.
• Areas for Improvement: Some firms needed to implement changes to:
  • The content of terms and conditions
  • Claims processes (which were found to be lengthy)
  • Development of effective Management Information systems

Business Impact Overview

Non-Compliance Costs

• The review primarily served as a reminder of existing requirements.
• Costs associated with non-compliance were likely incurred by firms that failed to meet pre-existing rules.
• These costs included:
  • Additional staff training
  • Changes to processes and procedures
  • System changes (limited to process improvements or Management Information development)
  • Changes to oversight mechanisms
• Most of these costs were incurred before the Payment Services Regulations were implemented in 2009.

Familiarisation Costs

• All 173 firms covered by the review were expected to familiarise themselves with the TR content.
• The estimated one-off familiarisation cost was £16,608.
• Calculation:
  • 173 firms
  • Estimated reading time: 2 hours per firm
  • Reading rate: £48/hour
  • Total cost: 48 × 2 × 173 = £16,608
• The assumption was based on the reading speed of 50-100 words per minute and an hourly rate derived from the 2016 Robert Half salary guide for compliance managers in London.

Costs and Benefits from Good Practice Examples

Additional Information

• Link to Thematic Review: Fair treatment for consumers who suffer unauthorised transactions
• Link to Robert Half Salary Centre: 2016 Robert Half Salary Guide

Conclusion

The thematic review TR16/3 primarily reinforced existing regulatory standards and encouraged firms to adopt best practices that would improve customer outcomes and operational efficiency. While some firms may have incurred costs related to non-compliance, the review emphasized that most improvements would be cost-neutral or lead to long-term cost savings. The estimated familiarisation cost for all firms was £16,608, based on a reasonable assumption of reading time and rate. The BIT score was calculated as 0, reflecting that the review did not introduce new regulatory requirements but rather highlighted existing ones.