Parkwell Market Insights: Consumer Duty – An Update
Consumer Duty – An Update
Wednesday 7th June 2023
Parkwell Offices, 8 Laurence Pountney Hill, London EC4R 0BE
The new FCA Consumer Duty has attracted significant attention over the past few months, and the pace of change within the industry has increased rapidly to ensure firms meet the next implementation deadline on 31st July 2023. For anyone still not aware of this major regulatory change, the FCA Consumer Duty sets higher and clearer standards of consumer protection across financial services and requires firms to put their customers’ needs first. The July 2023 date is just the next milestone in an ongoing programme of work for many firms.
At Parkwell’s previous Consumer Duty seminar in March 2023 we highlighted how firms now need to prioritise effectively over the remaining implementation period and focus on the areas that will make the biggest impact on outcomes for consumers. One of the hot topics also debated during our panel session was the FCA requirement to provide sufficient evidence. Many firms are in the process of implementing various system, process, and reporting changes to be able to evidence the actions and the decisions they take in delivering good outcomes for consumers. But what if these changes are not delivered by the implementation deadline of 31st July 2023?
At Parkwell’s next Consumer Duty seminar on Wednesday 7th June 2023 we will give an update on the current FCA position, look again at what to focus on within the remaining timescales and recommend practical steps firms can take to ensure they are as ready as they can be for the next implementation date. We will also facilitate another of our popular panel discussions where representatives from both the wealth management and legal sectors will share their thoughts and insights on how to best implement the new Consumer Duty regulation.
If Consumer Duty impacts your business, please join us for our next invitation only Parkwell Insights seminar on Wednesday 7th June 2023.
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15:00 – 15:30 – Networking
15:30 – 15:35 – Bruce Weatherill – Welcome & Introduction
15:35 – 15:50 – Tariq Khan, Objectway
15:50 – 16:05 – James Brown, Compeer
16:05 – 16:20 – Haydn Webley, FIS
16:20 – 17:00 – Wealth Management Panel Discussion
(Archana Mohan – Veritas Investment Partners, Glenn Murphy – Consultant, Nick Rosser – Saunderson House, Mark Harrison – Killik & Co)
17:00 – 18:00 – Networking
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Bruce Weatherill, Master of Ceremonies
Bruce is a Chartered Accountant with over 35 years’ financial services industry experience around the world. He was a partner in PwC for 20 years and is now a non-executive director of Compeer as well as other companies. |
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James Brown – Head of Client Services, Compeer
James joined Compeer in October 2006 as an analyst following his graduation from The University of Warwick, where he studied Mathematics, Operational Research, Statistics and Economics. Today he manages Compeer’s team of analysts. He has widely presented key trends in the UK Wealth Management Industry, with in-depth experience of providing statistical analysis of firms’ business performance. He regularly provides recommendations during presentations to Executive boards, and is actively involved in bespoke research projects. |
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Tariq Khan – Client Development Director, Objectway
Tariq is responsible for Business Development and Account Management in the UK and Middle East. An accomplished professional with over 20 years experience of working with senior management and board level in financial services. Tariq’s role involves understanding our clients’ business objectives and ensuring Objectway’s solutions can enable these as well as adding value to the clients’ future roadmap in a true partnership approach. |
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Haydn Webley – Senior Solution Consultant, FIS
Haydn Webley is a Senior Solution Consultant in the Banking and Payments Division at FIS. Haydn has worked in various roles within Wealth/Data management for over 35 years. The bulk of this time was spent at ICE Data Services, working in both Product Management and Sales Support Functions, where he was responsible for a range of Global Strategic Relationships. In this capacity Haydn has been a speaker at a range of industry events and client conferences, including the SIA annual conference in New York. Latterly, Haydn was the Partners Director at SIX Financial, where he was responsible for Third Party and Software relationships in the UK, Ireland and the Nordics. |
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