How will Consumer Duty’s rules work in the real world?
A Consumer Duty webinar
The FCA’s principle-based rules on Consumer Duty are one thing, but how are these likely to be applied in real life? Just how will these principles be followed in practice? This webinar tackles this head on. The panel takes specific Consumer Duty rules and explores how advisers and firms might apply these in real situations – providing a valuable insight into not only how these rules will be accommodated but also how the rest of Consumer Duty might be best applied.
Consumer Duty frequently mentions harms – but what are these? How do you go about assessing harms for your products and services? Some harmful outcomes are not trivial – and quite a lot of other circumstances can lead into those harms. Andrew Gething explains to Tony Crane how to look at harms in the context of a product and assess how large the harm is – or potentially could be. Andrew shares his firm’s experience of undertaking risk assessments to quantify risks – and how this can be applied to financial products and services.
How understandable are firms’ communications? How well do they work for those with learning disabilities, a lack of financial understanding, language disorders, poor English skills, hearing problems, or poor sight? Setting these aside, clarity of communications affects all consumers. This webinar examines the requirements of Consumer Duty – and how organisations can best implement communications strategies to address any shortcomings which may lead to potential harms. The webinar will be hosted by Peter Labrow, head of marketing at MorganAsh. He chatted with Andy Kirby, CEO and co-founder of Money Alive and co-founder of Adviser Home, and Robin Harries, lead consultant at communications business Quietroom.