The Financial Services Authority (FSA) has announced new measures to keep in contact with small businesses to ensure they are treating their customers fairly.

"We want to help small firms better assist their customers, many of whom are seeking advice on some of the biggest financial commitments they will ever make," stated Hector Sants, CEO of the FSA.

"We are therefore increasing the contact we have with small firms to improve the rate of this change and to enable them to better help their customers."

The measures will include telephone assessments and structured visits in an ongoing program to ensure the “TCF” (Treat Customers Fairly) principle is being carried out.

90% of firms regulated by the FSA are classed as small businesses, and there is a deadline of December 2008 for companies to be able to demonstrate that they are implementing the TCF principle.