The PFS (Personal Finance Society) and CII (Chartered Insurance Institute) have launched a comprehensive Consumer Duty digital learning suite, developed with financial experts, to assist members in complying with FCA regulations.
Members have access to the “Overview of Consumer Duty Regulations” course, which is a crucial introductory tool for anyone working in personal finance, as part of this all-encompassing suite.
The “Spotlight: Consumer Duty Good Practise Examples” course is also part of the package, and it was specifically created to address the needs of senior staff and industry leaders by providing in-depth insights and real-world applications of regulatory requirements.
Additionally, the “Spotlight: Consumer Duty Action Planning Process” course offers a thorough framework for those looking for practical advice on how to implement these regulations effectively. This framework helps practitioners in small firms and leaders of teams or departments in medium-sized firms to prioritise customer centricity, gather data, and promote necessary cultural shifts within their organisations.
The suite provides the “Consumer Duty Practise Diagnostic Tool,” which has been tailored to meet the unique needs of practitioners in small firms and leaders of teams or departments in medium-sized firms, to make it easier to identify potential weaknesses in the implementation of Consumer Duty.
The PFS has scheduled interactive, in-person Consumer Duty Action Planning Workshops for October 19 and 25 to complement these online materials. The seminars’ main goals are to increase participants’ comprehension and offer them useful suggestions and guidance.
PFS interim CEO Don MacIntyre says: “We are proud to introduce the Consumer Duty digital learning suite, which builds on the significant resources already developed by the PFS to meet business needs. I would encourage all finance professionals to identify and take the steps needed to drive our sector forward, embracing the positive shift in culture intended by the FCA with the introduction of its Consumer Duty regulations.”