Course description
Understanding The New Consumer Duty for FCA regulated Firms (Public Course)
With the FCA's Consumer Duty coming into force on 31 July this year, staff need to be ready and on top of the regulator's new, and in some cases not-so-new, approach. The new Consumer Duty will create a new FCA Principle, four cross-cutting or general rules for all regulated sectors and what amounts to a rewriting of the rules on the key areas of customer communications, product governance (particularly for those outside the investment and insurance space), customer service and the extension of the notion of assessing value for money.
Suitability - Who should attend?
This focused course will be of value to Senior Managers, as well as Compliance, Risk, Product Governance, Financial Promotions and Customer Service specialists in all regulated firms that deal with retail clients as defined in the different rulebooks (which, in addition to traditional 'retail' firms, also means 'consumers' for consumer credit, large amounts of investment business on a B2B basis, all regulated mortgage business, B2B banking and payment services and e-money).
Outcome / Qualification etc.
CPD hours: 6
- Navigate the principles, cross-cutting rules and outcomes and distil from that what your business needs to be doing
- Highlight the key FCA rulebook changes proposed in CP21/36 and the compliance implications for your firm
- Identify what the additions are that will add to your existing obligations as regards product governance, client communications and customer service
- Conduct an effective gap analysis
- Interpret the FCA's thinking in this area and help your firm keep up to date with and prepare for ongoing and future developments in the new Consumer Duty
Course delivery details
The course programme will comprise of a blend of trainer presentations, group discussion, practical examples and case studies. There will be opportunities for questions, experience sharing and networking. All course materials (and at face-to-face events, refreshments and lunch) will be provided.
Expenses
Course Fees: £749.00 + vat per person