Complaints and the Consumer Duty

Outline and objectives

With the Consumer Duty in place for open products and services and only just around the corner (31 July 2024) for closed products and services, now feels like a good time to reflect (in a safe space) at our progress so far and what else we might still need to do, to be able to demostrate to the FCA that customers who complain are receiving good outcomes.

In this session, we'll focus on the practical impact the Consumer Duty has had (and continues to have) on our approach to, and handling of, customer complaints.

We'll also look at the types of complaints we're starting to see from customers where the Consumer Duty is being mentioned, and what we can learn from the Financial Ombudsman Service.

And wit complaints data and customer insight being used by the FCA now, to measure whether a firm's behaviour and culture towards its customers is in keeping with its expectations, we'll look at this too, to make sure we're able to pull together everything we need to.

If you oversee a complaints function in a FCA regulated firm, this course will help you to:

1. Provide reassurance about the progress your firm has made, and highlight any areas where your firm could make further changes.
2. Identify the types of complaints currently being made and what we might expect to see after 31 July 2024 and what we can take from what we (and the Financial Ombudsman Service) are seeing now
3. Review the data and insight we're collecting, to make sure it's telling us everything we need to know, as well as what the FCA wants to know

Who will benefit?

The session will be of value to those who have strategic, managerial or operational oversight for complaints handling teams or any areas handling customer complaints.

Course Agenda

• The FCA’s Consumer Duty - the impact on how we approach and handle complaints
• Complaints under the Consumer Duty
• Data and insight