The newly published Consumer Duty (CD) is a topic on everyone’s agenda right now with boards being required to approve their firm’s implementation plans by the end of October 2022. However, as all-consuming as it might feel, with proper planning, ensuring compliance with the new higher standards doesn’t need to be a burden to you or your firm; indeed, there is significant opportunity for firms to benefit from well-tailored implementation plans and enhanced working practices.
The FCA have clearly stated that the aim for introducing the new Consumer Duty is to drive a fundamental shift in industry mindset, but what does this really mean and what part does each individual, regardless of their role and status within an organisation, have to play in this? With this in mind we are once again delighted to be joined by Marian Bloodworth, Employment Law Partner in the FS Employment Team at Deloitte Legal, for another lively discussion, update and debate on these issues and considerations, including the key implications of Consumer Duty on the individual and from a HR perspective.
And a good place to start down the path of an appropriate and successful implementation plan is with a review of the basics of managing, deploying and evidencing governance, accountabilities and competence. The regulator certainly plan to continue to supervise firms against personal accountabilities, conduct and culture. So documentation, evidence, communication and reliable and accurate data is therefore obviously key for all firms. Those who choose to be less tech enabled and continue with a reliance on compromised systems and controls risk becoming increasingly out of step in the months and years to come. This webinar will also help you benchmark your firm against the systems and controls deployed within other organisations and understand more about why the latest RegTech offers so much value and opportunity.
To register for this free event, click here