Getting to grips with the Consumer Duty

Getting to grips with the Consumer Duty

Thursday 2nd February  14:00 - 16:00 | £250 | 2 CPD hours

Webinar Overview

Setting higher standards and putting consumers’ needs first are central to FCA’s strategy of delivering in the interests of consumers, markets and the economy.  The Consumer Duty provides the framework for securing high and clear standards of consumer protection across financial services, requiring firms to deliver good outcomes by putting their customers’ needs first. Firms now have only a matter of months in which to meet the requirements and modify their products, services and arrangements to ensure that they are fully compliant.  There is much to be done within a relatively short time frame.  This webinar is designed to help participants recognise the issues which need to be addressed by their firms if they are to meet the regulatory deadlines.

Key topics

• The scope of the Consumer Duty
• The Consumer Principle
• The cross-cutting rules
• The four outcomes
  • Products and services
  • Price and value
  • Consumer understanding
  • Consumer support
• Treatment of those in vulnerable circumstances
• Application to existing products and services
• The implementation period and deadlines
• Culture, governance and accountability considerations
• Monitoring outcomes and progress
• Duty Board Champions

Who should attend?

This webinar is aimed at all staff who are responsible for those parts of the business impacted by the Consumer Duty.  It is equally appropriate for those staff who have direct line responsibility for products and services as well as those in specialist support and control functions.