The Consumer Duty formally imposes an actionable duty on regulated firms to deliver good outcomes for retail customers with a focus on products and services, price and value, consumer understanding and consumer support. These build on previous FCA initiatives such as Treating Customers Fairly and the Conduct Risk Framework.
The Duty is inextricably linked to these non-rules-based obligations which rely on subjective tests of “fairness” rather than objective legal tests. This means compliance will always be subjected to a test of hindsight if the FCA decides to take action.
With the FCA highlighting gaps in firm's implementation plans and a growing realisation in the compliance community of the tight deadline and the complexity involved, this course aims to help firms focus on the impact of the Duty on their monitoring programmes and will likely raise questions and challenges for your current implementation plan.
Attending will help you:
This focused course will be of value to anyone responsible for risk assessment, creating or implementing monitoring programmes. This is likely to include Senior Management Team, as well as heads of Risk, Compliance and Audit, and individuals who compile reports for the senior management team.
This course will comprise a blend of trainer presentation, group discussions, exercises and examples. There will be ample opportunity for questions, experience sharing and networking. All course documents, (as well as refreshments and lunch for face-to-face courses) will be provided.
Gary Pitts has over 25 years of compliance experience in the UK and overseas, including spells in regulation, asset management, investment banking and as managing partner of a boutique financial services house. A FSA/FCA registered person in Controlled Functions 10 and/or 11 since 2001, he now runs his own governance and regulatory consultancy: Tetractys Partners LLP. Gary is a regular conference speaker and author of technical articles on compliance related topics and sits on the regulatory advisory group of the Journal of Securities Operations and Custody. He brings a combination of compliance and commercial experience, in terms of both practical implementation and Board level oversight, to the training he delivers.
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What the Consumer Duty expects firms to deliver |
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How this affects risk assessment and mi |
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Creating relevant auditable outcomes for your firm |
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The conclusions you need to draw |
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Helpful techniques |
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Leveraging existing monitoring / infrastructure |
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This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.