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.
Digital Learning
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%.
PROFICIENCY+ Consumer Duty competency diagnostic tool
The Proficiency+ Consumer Duty diagnostic tool enables firms to manage, develop and evidence the behaviours and competence of their workforce against the expectations of the FCA. The tool is a solution for financial planning firms of all sizes, specially designed to assess the competency of Financial Advisors, Planners and Paraplanners - from entry-level to experienced practitioners.
To find out more about any of the courses above from a member of our team, be sure to register your interest.
If you have a corporate or business enquiry, please contact us at business.enquiries@cii.co.uk
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