Course description
The FCA’s ongoing work in relation to culture has culminated in the creation of the ‘Consumer Duty’, a step change in the way firms treat customers.
The new duty brings with it a new enforceable set of standards and sets higher expectations for the standard of care that firms provide to consumers. For many firms, this would require a significant shift in culture and behaviour, where they consistently focus on consumer outcomes, and put customers in a position where they can act and make decisions in their interests. It is essential you ensure you are taking the correct steps to become compliant.
This virtual classroom session with leading expert Robert Bell will give clarity where there is ambiguity, after which you will be able to fully understand the upcoming changes. This session is appropriate for those working for an FCA regulated firm based in the UK.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
The FCA’s ongoing work in relation to culture has culminated in the creation of the ‘Consumer Duty’, a step change in the way firms treat customers.
The new duty brings with it a new enforceable set of standards and sets higher expectations for the standard of care that firms provide to consumers. For many firms, this would require a significant shift in culture and behaviour, where they consistently focus on consumer outcomes, and put customers in a position where they can act and make decisions in their interests.
With the risks of getting it wrong higher than ever and rules becoming ever more complex, it is essential you ensure you are taking the correct steps to become compliant.
This virtual classroom session will give clarity where there is ambiguity, after which you will be able to fully understand the upcoming changes. It is appropriate for those working for an FCA regulated firm based in the UK, including Scotland and Northern Ireland.
The session contains a case study based on a credit lender however the content in the session is transferable to all financial services firms.
What You Will Learn
This live and interactive session will cover the following:
- Why the FCA are bringing in the duty
- A summary of the Consumer Duty
- How to comply with the Consumer Principle
- Explanation of the cross-cutting rules
- Four outcomes: required reviews
- Monitoring and governance
Expenses
MBL Seminars Limited
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