“On Duty” Booster session – Top Tips to help firms complete their implementation plans by the 31st October 2022 deadline

 (The clock is ticking – less than 8 weeks to meet the deadline)

Date: 27th September 2022     Time: 10am to 11:30am

To book contact: email deborah@createsolutions.co.uk or phone 0161 870 6637     Cost: Just £69 plus vat per person    Delivery: Via Zoom

You may have attended our three previous sessions on the FCA’s new Consumer Duty (‘Duty’) and most firms will now be in the process of developing their implementation plans in good time for meeting the first deadline of the 31st October 2022.

NOTE! Firms have just under a year to implement the Duty requirements, but an implementation plan is still required by the end of October 2022. The FCA has indicated that it will ask firms for these, with supervisors planning to challenge their contents.

For firms where the Duty applies, they should be able to demonstrate and articulate their planning process. The firm’s board (or equivalent) should also be able to demonstrate it has scrutinised and questioned/challenged the implementation plan, to ensure it can be realistically delivered. It is clear therefore, that the task of understanding the Duty is not one that should rest solely on the shoulders of a firm’s compliance function.

Steps a firm will need to take include considering whether their firms’ activities are in or out of scope, some form of mapping exercise, a benchmarking activity, and dialogue between the board, middle management, and other staff to make sure customer experience and support are considered in all of this.

A flavour of what we’ll cover in this session, how confident would you feel if asked by the FCA the following questions?

• Does the Duty apply to your firm, and if so where and how?
• If it does not apply, why not?
• Can you demonstrate you have considered all the questions in some detail?

Come on this practical session to look at:

 What a good implementation plan may look like.

• The steps you should be taking at board level/senior management level before starting your implementation plan.
• Understand what the FCA may expect of your firm.

This is a practical session, and it is ideal for Board members, Non-Executive Directors, Senior Managers, Risk and Compliance staff, or those who work in operations etc.  In fact, anyone who will have an involvement in designing and delivering the firm’s Duty implementation plan.

Delegates will receive a certificate of attendance.