27 Results found.

Webinar recap: Understanding the Consumer Duty’s good customer outcomes

Insight — 28/11/22
Last week Consumer Duty expert and TCC’s Associate Director, Neil Dethick joined a specialist panel that continued a Duty focussed webinar series, hosted by Recordsure in partnership with BSA.   Host, Recordsure’s Chief Product Officer Garry Evans, was joined by Ex-FCA and now Senior Produc

A helpful summary of the FCA’s four Consumer Duty outcomes

Insight — 26/10/22
The hugely significant shift towards the FCA’s new Consumer Duty will culminate in its first deadline on Monday 31st October, when Implementation Plans needs to be ready for regulatory scrutiny. Under the Duty’s overarching Consumer Principle of ‘A firm must act to deliver good outcomes for re

FCA Outcome 4: Consumer support

Insight — 19/10/22
In a matter of days, the Consumer Duty’s first critical deadline of having Implementation Plans ready for review will be upon us. Last week, Chief Operating Officer and Executive Director at the FCA, Emily Sheppard spoke about the Duty at the CISI/Financial Planning Conference 2022 and explained

Five need-to-know Consumer Duty practicalities

Insight — 12/10/22
1. How will the FCA assess your firm’s Consumer Duty compliance? The Consumer Duty and how it will regulate financial service compliance is being widely discussed across the industry. The changes are significant and given that the FCA is now leading with more assertive supervision – a ‘show me

FCA Outcome 3: Consumer understanding

Insight — 11/10/22
With less than three weeks to go until firms need to have a Consumer Duty Implementation Plan that is ready for FCA scrutiny, we continue our series considering the Duty’s four outcomes.   After Nick McGruer, Head for Advisers, Wealth and Pensions at the FCA shared that independent financial

FCA Outcome 2: Price and value

Insight — 04/10/22
As the weeks continue to slip away, we spotlight the FCA’s four Consumer Duty outcomes: products and services, price and value, consumer understanding and consumer support.     Here, Neil Dethick, Associate Director at TCC, focuses on outcome two: price and value. Ahead of the imminent Duty

FCA outcome 1: products and services

Insight — 27/09/22
The new Consumer Duty, which applies to existing FCA regulated products and services, as well as any new products expected to launch, is nearly here. Under the Duty, firms are required to have an Implementation Plan ready for scrutiny in just a few weeks where ‘firms will need to assess and eviden

Three key steps to ensuring Consumer Duty readiness

Insight — 24/08/22
With the FCA’s deadline for implementation plans confirmed for 31st October 2022, firms should now be discerning how they’re going to adjust their business framework to satisfy the significant step up in oversight requirements as a matter of priority. But with only weeks left to prepare, how can

Implementing the Consumer Duty: what are the foreseeable challenges?

Insight — 12/04/22
Replacing the previous Treating Customers Fairly (TCF) requirements, the Consumer Duty is expected to bring new standards of care across the entire client journey. But could it also lead to new operational challenges? In FT Adviser, Associate Director Neil Dethick outlines four potential complicat