Consumer Duty Weekly: Your 2022 Recap

Bonus session

Your Consumer Duty 101, covering:

• how we got to the new rules (and why?!);
• the overall framework of the Consumer Duty;
• timeline for the rule changes, plus (in a first for regulatory rule changes of this kind) the FCA's next steps plan;
• what firms should be doing now (aka, what is an implementation plan?); and
• a brief look at scoping, governance requirements and what's changed since the draft rules came out.

Watch / listen to the session here.

Consumer Duty Weekly: Planning, implementation and governance

Ahead of the 31 October 2022 deadline for board approval of firms' implementation plans, this session covered:

• what needs to happen ahead of board approval;
• what (on earth) might an implementation plan look like and the practical issues that should be considered; and
• a deep-dive into governance requirements under the new rules.

Watch / listen to the session here.

Bonus session

Consumer Duty implementation, for execution-only brokers. In this session, we cover:

• suggested implementation milestones;
• potential uplifts required to enable good outcomes; and
• an overview of the guidance applicable to execution only brokers.

Watch / listen to the session here.

Consumer Duty Weekly: Scoping

An in-depth conversation on the 'where, who, when, what' of the scope of application of the Consumer Duty.

Watch / listen to the session here.

Consumer Duty Weekly: The price and value outcome and more on scoping

A look into Consumer Duty themes that have arisen in previous weeks and answering your questions around:

• the price and value outcome;
• differing approaches to the implementation plan;
• consumer duty champion;
• scoping versus de-scoping products and services; and
• the application of the Consumer Duty on a group versus entity basis.

Watch / listen to the session here.

Consumer Duty Weekly: The price and value outcome and more on scoping

A look into Consumer Duty themes that have arisen in previous weeks and answering your questions around:

• the price and value outcome;
• differing approaches to the implementation plan;
• consumer duty champion;
• scoping versus de-scoping products and services; and
• the application of the Consumer Duty on a group versus entity basis.

Watch / listen to the session here.

Consumer Duty Weekly: Unfair Terms and the Consumer Rights Act 2015

In this session, we discuss how unfair contract terms and fairness under the CRA are relevant to the application of the Consumer Duty – plus, observations on firms' scoping plans.

Watch / listen to the session here.

Consumer Duty Weekly: Financial Promotions and Behavioural Economics

After a brief hiatus following the 31 October deadline, the Consumer Duty Weekly series resumes with a session on:

• a discussion of behavioural economics and how this is used by the FCA;
• recent messaging from the FCA around the consumer duty (including helpful Q&As from FCA webinars and communications); and
• a brief look into the FCA's expectations around financial promotions;

Watch / listen to the session here.

Consumer Duty Weekly: PRIIPS KID and Marketing

Continuing the series with a webinar on:

• updates from the FCA on the Consumer Duty (Annual Public Meeting 2022 Q&A and Nikhil Rathi speech);
• changes to the UK and EU PRIIPS KID regulation regimes; and
• a deep-dive into marketing and what the Consumer Duty means for the financial promotions regime and the ASA's advertising rules.

Watch / listen to the session here.

Consumer Duty Weekly: Wind-Down Planning, FCA and BaFin on problematic observations with trading apps and Consumer Duty scoping FAQs

A quickfire session covering:

• the FCA's thinking around wind-down planning and the link to the Consumer Duty;
• FCA communications around the gamification of trading apps (TL;DR: confetti = bad; push notifications = be cautious and monitor);
• BaFin paper on the use of 'dark patterns';
• FCA webpage on raising standards in financial promotions; and
• answering your Consumer Duty scoping questions.

Watch / listen to the session here.

Consumer Duty Weekly: Consumer Duty Updates and the Price and Value Outcome

The final session of the year on:

• FCA concerns about problem firms in the CFD sector;
• FCA 'Dear CEO' letter for financial advisors and intermediaries;
• FCA quarterly consultation paper no. 38;
• FCA consultation paper on the financial promotions gateway; and
• a deep-dive into the price and value outcome.

Watch / listen to the session here.