Webinar: Consumer Duty – are you ready?

With the deadline for Board approval of Consumer Duty implementation plans long since passed (30^th October 2022), we are now quickly hurtling towards the next key date of 30^th April. This is the date by which manufacturers should have reviewed their existing products and should have shared information on their products and services, such as features, benefits, limitations, target market and distribution channels, with their distributors. Before we know it, Consumer Duty’s formal implementation date of 31^st July will be upon us.

With this in mind, we thought it would be helpful to host a webinar and run through the key actions you will need to take in advance of the implementation date and also summarise the key messages from the FCA’s recent “Dear CEO” letters and also their multi-firm review of Consumer Duty implementation plans.

Finally, before we opened up the floor to attendees for a Q and A, we also shared and discussed the current pain points firms have been experiencing with their implementation of the new Duty, for example, management information and fair value assessments.

This webinar is now available to view on demand and can be accessed via the button below.

Agenda

• Welcome
• Consumer Duty implementation timeline – where are we now?
• FCA communications:
  1. Implementation plan reviews
  2. Sheldon Mills speech and podcasts
  3. Dear CEO letters
  4. Current pain-points
• Management information – how do you know when enough is enough?
• Vulnerabilities
• Fair value assessments – what should be included
• What questions should firms ensure they have the answers to?
• Q&A