WebThis live and interactive session will cover the following: Why the FCA are bringing in the duty. A summary of the Consumer Duty. How to comply with the Consumer Principle. Explanation of the cross-cutting rules. Four outcomes: required reviews. Monitoring and governance. Recording of live sessions: Soon after the Learn Live session has taken ... WebJan 4, 2024 · The Board Champion isn’t on the hook for Consumer Duty implementation; instead, their role is to ensure that the Consumer Duty is raised regularly at senior levels. The Consumer Duty goes beyond TCF : it is wider in scope, more onerous, and turns significant volume of guidance into enforceable rules.
FCA Business Plan 2024/24 - takeaways for insurance and pension ...
WebAug 14, 2024 · The FCA has decided to align the scope of the Consumer Duty with the existing scope of its sectoral sourcebooks (e.g. COBS, ICOBS, BCOBS, MCOB, CONC etc.). However, it will not apply to activities where an exclusion exists, either in the FCA Handbook or in legislation. For example, the Duty will not apply to unregulated buy‑to‑let … WebThe FCA has today published it business plan for the next 12 months, so if firms were hoping for time to digest the regulatory changes brought about by ... settowidth labelwidth biblabel #1
FCA Compliance & the New Consumer Duty - Live at Your Desk
WebChristopher Woolard CBE, Heather C Alleyne, Brendan Gilroy 21 Dec 2024. Consumer Duty will set clearer and higher standards for the culture of firms and the conduct the Financial Conduct Authority (FCA) expects of them. This will require firms to put customers at the heart of their businesses, offer products and services that are fit for ... WebJan 26, 2024 · With six months to go before the Consumer Duty comes into force, the FCA has published a review of how firms are planning to implement the Duty. The review contains the key findings, together with examples of good practice, and also examples of where firms may need to improve their implementation approach.. The findings are … WebIn July, we confirmed our plans to introduce a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and require firms to … set to uk keyboard windows 10