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Consumer Duty – it’s closer than you think

The FCA has released final rules for the Consumer Duty. Whilst most people have focused on the news that the implementation deadline will be extended to July 2023, a firm's board must, by the end of October 2022, need to have signed off on their project implementation plans. This should not be a tick-box exercise; the FCA expects Boards to be able to demonstrate and evidence that they have taken appropriate steps to assess the viability of the plans and the sufficiency of the resources allocated to achieve them.

In this 60-minute webinar, Frank Brown – Senior Director at Hogan Lovells – and Adrian Harvey – CEO of Elephants Don’t Forget – walk you through the four critical considerations firms need to make when designing, pricing and selling products to retail customers, paying particular attention to:

– The critical importance of gaining engagement and buy-in from the First Line

– A top-down/bottom-up framework to successfully implementing Consumer Duty

– Assessing the impact of Consumer Duty on your product portfolio

– How firms can evidence that customers are central to their culture and purpose

– The Board’s responsibility for successfully implementing and embedding Consumer Duty

This webinar is hosted in conjunction with Hogan Lovells

Hogan Lovells

Watch it on-demand here...

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Adrian Harvey & Frank Brown

Adrian Harvey: CEO of Elephants Don't Forget
Adrian spent the first decade of his career working in corporate banking and lending, with ABN AMRO, GE Capital & BNP Paribas. He joined the energy sector to bring commercial expertise to the privatisation of British Gas and spent 10 years in the sector. He was Managing Director of the largest residential business of British Gas and Managing Director of Eon’s property services and renewable energy business.

Frank Brown: Senior Director of Financial Services Regulatory Consulting at Hogan Lovells
Frank works with C-suite and senior management to solve current problems (Compliance, Op Risk, Conduct Risk, customer outcomes, operational inefficiencies), and to build processes to enhance effectiveness, embed resilience, and reduce the risk of future failures. He brings a wealth of experience in facilitating internal change to improve Governance, Culture, GRC, ERM and strengthen the 3 Lines of Defence.