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Consumer Duty Templates

The Duty has been introduced due to a series of poor practices identified by the FCA such as unfair pricing, products and services which exploit customers' behavioural biases and a failure to communicate clearly with customers. The new standard requires firms to properly assess their products and services, communication with customers and support provisions against the three cross-cutting rules. It also ensures that firms undertake an assessment of the value customers receive (value assessment) from their products and services.

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It can be difficult to understand the requirements when conducting product reviews, value assessments and reports, so we have created a number of resources to assist firms to remain compliant with the duty.

Webinar Introductions

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Introduction to the
Consumer Duty Webinar

Our first, free webinar provides you with an overview of the Consumer Duty, detailing the reasons why it has been created, effects on PRIN, the cross-cutting rules, high-level overview of the four outcomes and a road-map to compliance.

Products and Services
Outcome Webinar

Exploring the contents of your product approval process and product reviews as required by the Consumer Duty, this second, free webinar provides further detail on the first of the four outcomes as well as monitoring requirements.

Price & Value Webinar

This free webinar provides further information in relation to the requirements surrounding value assessments including the required content and background information. We also explore a brief example of a value assessment.

Overview guide:

Download our free overview of the duty

CONSUMER DUTY OVERVIEW

​An extensive overview of the Consumer Duty, explaining the development of the duty, its introduction and the scope of the Duty, interpreting key terms, offering approaches to understanding and realising the Duty with thought-provoking examples.

Consumer Duty Template Documents
£99+VAT / Bundle £399+VAT

CONSUMER DUTY GAP-ANALYSIS

  • Double check your compliance with questions covering:

  • Product Governance

  • Price and Value

  • MI and Reporting

  • Board Review

  • Culture  

PRODUCT APPROVAL TEMPLATE

  • Target market analysis

  • Characteristics of customers

  • Design of product or service

  • Communication testing

  • Consumer support

  • Sign-off

  • PRIN 2A compliant

OPEN PRODUCT REVIEW

  • Performance of the product against its intended benefits

  • Harms occurring

  • Communications

  • Consumer support

  • Customer objectives

  • PRIN 2A compliant

CLOSED PRODUCT REVIEW

  • Performance of the product against its intended benefits

  • Harms occurring

  • Communications

  • Consumer support

  • Customer objectives

  • PRIN 2A compliant

VALUE ASSESSMENT TEMPLATE

  • PRIN 2A.4 compliant

  • Updated with recent FCA feedback

  • Customer analysis (groups)

  • Assesses outcomes for customers

CONSUMER DUTY BOARD REPORT

  • The Financial Conduct Authority’s Consumer Duty requires at least annual reporting to the Board of Directors. This template is designed to be a starting point for your own Board Report, meeting the stated objectives of the FCA including their feedback since the first round of reports.

CONSUMER DUTY POLICY

  • High level policy to ensure the product governance framework is understood in the business and functions as expected.

CONSUMER DUTY BUNDLE

  • Includes all of the above templates for only £399 +VAT

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