28 Sep 2023, 11:00 am - 12:00 pm | UK & Europe
After the race to the Consumer Duty implementation finish line we all deserved a break over summer. But we’ve only reached the end of the beginning. The challenge now is to move from project delivery to integration, embedding and day-to-day management. And with the FCA already demonstrating the use of the Duty in its day-to-day supervision, it’s important not to be left behind.
Our consumer duty webinar looked at how to embed the Duty into business as usual – from broad principles to detailed requirements – and ultimately to make the new annual reporting requirement a natural output of your control framework. We covered specific challenges we’ve seen in firms so far, and highlighted what the FCA will expect to see, including:
- policies and procedures (including remuneration and incentives)
- training and competence
- compliance monitoring
- management information
- governance and the role of the Consumer Duty Champion.
We’ll also reflected on the wider cultural challenge of embedding principals-based regulation, and looked at lessons learnt from regulatory change in recent years.
Speakers
Michael joined our team following 16 years at the FCA, most recently as a Technical Specialist in Consumer Investments supervision. He has an in-depth understanding of the regulatory frameworks governing advised and non-advised pension/investment sales, product governance, complaints and redress.
Luke helps a wide range of clients with FCA authorisation applications, regulatory reporting, compliance monitoring, and day to day compliance support. Luke also assists asset managers gain clarity on ESG requirements in the UK and the EU as well as helping firms of all sizes with ESG disclosures and policy implementation.
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