Consumer Duty – what do you need to do?

In the webinar recording, RWA Business Consultancy provides information about the aim of the Duty, the principles, actions, and expectations that make up the new Consumer Duty responsibilities coming from the FCA.

The phased enforcement deadlines were: 31 July 2023 for new or existing products open to sale or renewal, and 31 July 2024 for supported but closed products or services.

This webinar recording includes information on how to:

• Engage with its three-tier consumer-centric principles
• Spot the compliance gaps in your business
• Plan your response and the resources you need to adhere to the principles in good time.

Remember, Consumer Duty is a far-reaching and mandatory shift in how we all serve customers:

• Consumer principle - always strive to deliver positive customer outcomes
• Cross-cutting rules - always act in good faith, avoid causing reasonably foreseeable harm, and support customers in achieving their financial and commercial objectives
• Generate positive outcomes - products and services that are monitored, fit for purpose, offer fair price and value, are easily understood, and promote informed choice without creating barriers to entry.

If you would like to dive deeper into Consumer Duty and how to prepare your business, then email helpdesk@rwagroup.co.uk or visit RWA.