The Consumer Duty - Making Sense of the FCA’s Multi-Firm Reviews

Introduction

The Consumer Duty - introduced in 2023 - aims to enhance the protection of consumers in the financial services industry.

The resulting step-change in the regulatory framework requires firms not only to comply with the regulatory requirements as before, but to actively ensure that products, services and operations result in good outcomes for consumers.

In the period since its introduction, the FCA have undertaken a series of reviews to ensure that firms are working to deliver good outcomes for consumers.

These reviews offer valuable insight into the Regulator’s expectations.

This new full-day course will examine the key requirements of the Duty and the outcomes and expectations of each of the reviews.

The course is suitable for senior staff in regulated financial services firms.

What You Will Learn

This course will cover the following:

• Key points of the Consumer Duty
• Common failings
• Retail banking multi-firm review
• Consumer Duty implementation
• Insurance multi-firm review
• Payments multi-firm review
• Consumer Duty board reports
• Consumer support outcome