Webinar: Consumer Duty – Are You Prepared?

Description:

On July 31 2023, the deadline for the new Consumer Duty requirements set by the UK’s Financial Conduct Authority (FCA) for new and existing products and services came into effect. A year on, July 31 2024 looms closer with another deadline whereby firms must once again prepare to fully comply with the new Consumer Duty requirements for closed products and services. By this date, firms are expected to meet the standards outlined in the Consumer Duty framework, which aims to ensure a higher level of consumer protection and promote good outcomes for retail customers. With this deadline swiftly approaching, it is imperative that firms understand the significance of these changes and ensure full compliance with the regulatory requirements.

In this session we will dive into the topic by:

• Discussing the four outcomes and their implications
• Exploring fair value assessments, proportionality and acting in good faith
• Outlining good practices all firms should adopt