On 31 July 2023, new rules came into force for financial services firms. The new rules, known as the Consumer Duty, set a higher standard of consumer protection in financial services.
All financial services firms are now required to review and update their products and services to ensure they are putting consumers at the heart of their business. They must ensure they are providing consumers with the support they need, when they need it, producing communications consumers understand and providing products and services that meet consumers’ needs and offer fair value.
The PFS, in conjunction with subject experts and the CII, has produced four digital courses and a face-to-face workshop. These are designed to provide you with learning content for all your team or employees, and tools to support you in ensuring you and your team or employees can evidence how you are meeting the new requirements.
More details about the four digital courses can be found below. They can be purchased separately or together as the Consumer Duty Digital Learning Suite, representing a cost saving of 20%.
The Consumer Duty Action Planning Workshop is a face-to-face session which follows a similar learning path to the Spotlight: Consumer Duty Action Planning Process. However, it provides the opportunity for delegates to discuss examples and assess early implementation of their plans with other delegates, supported by an expert facilitator. Please note that this workshop is not included within the Consumer Duty Digital Learning Suite. More details can be found on the link below.