The Consumer Duty e-learning course is designed to help you and your team fulfil your responsibilities under the new Consumer Duty regulations by 31 July 2023. The course provides an overview of the duty, explains how firms should apply the duty in practice and covers guidance on how to prepare for the implementation of the Duty.
At the end of this course you should be able to:
• outline the rationale and purpose behind the Financial Conduct Authority (FCA) – Duty to Consumers
• determine the types of businesses impacted by the duty
• understand the three elements that constitute the duty
• explain the core changes to the duty imposed by the Financial Services Act 2021
• recognise the types of behaviour the new consumer duty is designed to eradicate
• understand what is meant by ‘enhanced outcomes for customers’
• identify and describe:
• The consumer principle
• The cross-cutting rules
• The 4 consumer outcomes
• explain the FCA’s original 11 principles and how the new Consumer Principle( principle 12) operates
• identify and explain the requirements of the Consumer Duty, as required by the FCA, relating to:
• Products and Services
• Price and Value
• Consumer Understanding
• Consumer Support
• explain what effective on- going monitoring and review of the outcomes is required from the customer’s perspective
• understand what data and evidence is needed to be FCA compliant
• describe the Senior Management and Certification Regime (SMCR) and how it interrelates to the Consumer Duty
Certification
CPD – Certificates are available to download immediately upon successful completion of the final quiz
Who is this course for?
Anyone working in a regulated sector or looking to secure employment in such a sector
Requirements
Internet access and able to read/speak English Language
Career path
- Financial Services
- Banking
- Compliance Risk
- FCA Regulated
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