Consumer duty training.
Fairness, transparency, and ethical decision-making—our consumer duty training embeds these core values into your DNA and across all customer touchpoints. In an age where consumers are more informed and regulators more vigilant, we empower your team to embrace their role in delivering exceptional customer outcomes.
Consumer duty isn’t just about compliance, it’s about enhancing customer satisfaction, building stronger relationships and cultivating long-term loyalty.
Mastering the art of customer-centricity
Consumer duty requires businesses to act in the best interests of their customers at every stage of their journey with you. Our expert-led training ensures that your team not only understands consumer duty requirements but also knows how to apply them in your specific business context. Course content covers everything from offering products and services that meet genuine customer needs, to providing clear and accessible information, and avoiding practices that could lead to consumer harm or confusion.
Course overview
Our training is structured into focused modules covering key areas of consumer duty compliance. Each can be delivered in-person or through the Cosegic online portal, with both options expertly designed to offer an engaging and interactive learning experience.
- Understand the implications of the FCA principle of ‘Consumer Duty’
- Understand why it is so important to your firm
- Describe the different ways in which your firm can evidence you are implementing Consumer Duty
- Understand the new Conduct Rule and Principal for Business
Rule the…
RECORDS
Our expertly crafted documentation templates serve as a solid foundation for creating firm-specific policies, ensuring every aspect of consumer duty is covered.
R&D
Cosegic’s CPD-accredited FCA consumer duty training equips staff to develop products and services that meet genuine customer needs and deliver impactful outcomes.
REALITY
Our consumer duty assessment provides a comprehensive evaluation of real-world compliance with FCA expectations while offering actionable insights to drive fairer consumer outcomes.
Consumer duty training FAQs
The FCA’s goal is to create a consumer-centric culture in financial services, ensuring that businesses consistently act in the best interests of consumers. It particularly emphasises the importance of firms identifying and supporting vulnerable consumers.
To comply with consumer duty regulations, financial firms must ensure products and services meet customer needs, provide value, and are free from unnecessary risks. This includes clear and transparent communication and providing fair treatment at all stages of the consumer journey.
Consumer duty primarily applies to FCA-regulated firms that offer products or services to retail consumers. It does not apply to businesses outside the scope of the FCA’s regulatory framework. For example, firms that do not offer regulated products or services or who deal solely with wholesale or institutional clients.
Treating customers fairly (TCF) and consumer duty are both FCA regulatory frameworks aimed at ensuring consumer protection. However, they vary in scope and approach. While TCF focuses on ensuring that financial firms treat their customers fairly throughout their journey, consumer duty is a more detailed framework for improving consumer experiences in financial services in a broader sense.
The four key areas emphasised under consumer duty are:
- Acting in the best interests of consumers: Ensuring products and services meet the needs of consumers.
- Providing products and services that offer fair value: Making sure products and services provide fair value to consumers.
- Ensuring clear communication: Communicating with consumers in a transparent, and timely manner, ensuring they understand the risks, benefits, and terms of products or services.
- Helping consumers to make informed decisions: Supporting consumers to make informed choices by offering the right information and guidance.
