Webinar

Consumer Duty

On-demand

Given our responsibility for ensuring consumers are properly protected, we are always working to improve standards in the financial services industry. With more financial decisions now in consumers’ hands and the changing digital landscape, now is the time for us to set a higher standard of consumer protection. 

We recently consulted (in CP21/13) on proposals for a new Consumer Duty. The Duty will enhance our existing rules and tackle the harms we see in retail financial services markets, as well as their causes. Many firms are already delivering the right outcomes for consumers, but we want all firms to put themselves in the shoes of consumers and get it right the first time, asking themselves, “Would I be happy to be treated in the way I treat my customers?”.   

We want an environment where good firms can thrive and consumers are able to make good decisions to pursue their financial needs. This requires firms to provide information consumers can understand, products and services that are fit for purpose and offer fair value, and customer service that helps not hinders. 

Watch the recording of our webinar to learn about what the Consumer Duty would require of firms and what outcomes consumers should be able to expect from financial products and services.  

During the sessions, we will focus on the following areas: 

• Why we are proposing a Consumer Duty 

• What outcomes we want to see for consumers  

• Key elements of the Duty  

• Next steps  

This webinar will be of interest to regulated firms (including electronic money institutions, payment institutions and registered account information service providers), trade bodies, consumer organisations, parliamentarians, professional services providers, academics and think tanks.  

 

Stephen Humphreys

Director of Corporate Communications, FCA

Sheldon Mills

Executive Director, Consumers and Competition, FCA

Nisha Arora

Director, Consumer and Retail Policy, FCA

Robin Finer

Head of Competition Economics, FCA

David Geale

Director of Retail Banking and Payments, FCA

Gareth Thomas

Senior Manager, Consumer and Retail Policy, FCA