About the Course
This training course provides an overview of the UK's new Consumer Duty, including its background, obligations, and impact on businesses and consumers. Participants will gain a clear understanding of the FCA's expectations and timelines for compliance, and what to expect in 2023. Ideal for those with little knowledge of the Consumer Duty.
This course introduces participants to the UK's new Consumer Duty, its background and rationale, and its impact on businesses and consumers. Participants will gain a clear understanding of the key obligations under the Consumer Duty and to whom it applies.
By the end of this training course, participants will be able to:
Understand the reasons why the Consumer Duty was introduced and how it differs from existing regulations and principles.
Identify the key obligations and requirements under the Consumer Duty and how they apply to businesses.
Recognize the potential impact of the Consumer Duty on their organization and customers.
Understand the new annual routine for compliance with the Consumer Duty.
This training course is designed to provide participants with an overview of the UK's new Consumer Duty and its implications for businesses and consumers. The Consumer Duty is a new regulatory framework that aims to improve the way firms treat their customers, placing greater responsibility on businesses to act in the best interests of consumers and to provide them with fair treatment. The course will begin with an introduction to the Consumer Duty, including its background, rationale, and objectives.
Participants will gain insights into the reasons why the Consumer Duty was introduced, how it differs from existing regulations and principles, and the impact it may have on businesses and consumers alike. The course will then delve into the key obligations and requirements under the Consumer Duty and how they apply to businesses. Participants will learn about the new principles for businesses, including the requirement to take all reasonable steps to avoid foreseeable harm to customers, and the requirement to act in the best interests of customers.
The course will also cover the requirement to maintain appropriate records, carry out regular assessments of the risks of harm to customers, and take remedial action where necessary. In addition, participants will learn about the FCA's approach to enforcing the Consumer Duty, including the FCA's expectations of firms.
By the end of the course, participants will be equipped with the knowledge and skills needed to comply with the Consumer Duty and to act in the best interests of their customers. Overall, this course is ideal for those who know very little about the Consumer Duty and who need to have a better understanding of what it is about. Whether you are a compliance officer, a senior manager, or a customer-facing employee, this course will provide you with the knowledge and skills needed to comply with the Consumer Duty and to meet the expectations of the FCA.
Required Knowledge and Skills
The course is suitable for anyone in the financial services industry dealing with retail clients. This course can be adapted so that it specifically addresses individuals working in specific roles such as risk and compliance, front, back, and middle office personnel, board members, and senior managers.
About Your Trainer
Zoe is a finance professional with in excess of 20 years of Investment Banking Compliance experience, operating across multiple functions including Head of Public Side Advisory, Head of Central Compliance, Certifications, Control Room and Surveillance.
In addition to her deep understanding of UK & international regulation as it applies to investment banks, Zoe’s core areas of strength include senior management engagement, the design, implementation and oversight of governance and risk frameworks, and delivering comprehensive Compliance policies, procedures and training programmes.
At Leaman Crellin Zoe focuses on regulatory consulting and training, with a specialist interest in Environmental, Social and Governance (ESG) and Sustainable Finance.