Consumer Duty – An Update

Wednesday 12th July 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 12th July 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 12th July 2023.

Agenda:

15:00 Registration

16:00 Jason Raikes, Parkwell – Welcome & Introduction

16:05 Ian Whyte, Parkwell

16:15 Sara Cody, Linklaters

16:30 Panel Discussion 

17:00 Networking

18:00 Close