Introduction to the Consumer Duty
The FCA's Consumer Duty is a new standard which addresses the conduct of firms. This duty aims to achieve a step change in how customers are protected.
This set of rules ensures that regulated firms are fair to their customers for the entirety of their relationship with them and that they are not taken advantage of.
Our Introduction to the Consumer Duty Course introduces this FCA Principle, the expectations that it sets and how to apply it in your day-to-day work.
- 15 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
- FCA Compliance Library, Insurance Compliance Library
Learning objectives
- Name the FCA Consumer Duty
- Recall the cross-cutting rules that explain the Consumer Duty
- Describe the outcomes that we must achieve for our customers
- Recognise when the Consumer Duty applies to your day-to-day activity
What can you expect your employees to learn?
Welcome
What is Consumer Duty?
- You decide: Why do retail customers require a higher level of protection?
Principle 12 - Consumer Duty
- Isn't that TCF with a different name?
- You decide
Three cross-cutting rules
- You decide
The four outcomes
- You decide
Good practice
Monitoring
New Conduct Rule for Individuals
- You decide
Summary
Affirmation
Assessment
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Your questions, answered
Common FAQs
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What other tools are needed beyond training?
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