The Financial Conduct Authority’s (FCA’s) new Consumer Duty comes into effect on 31 July. Designed to provide enhanced consumer protection, it offers businesses an opportunity to build better relationships and greater customer loyalty. However, it is important that companies understand their obligations under the new rules, as falling foul of the new Consumer Duty could result in stiff fines and reputational damage.
With this in mind, Bellevue Law has recorded a free-to-watch webinar together with leading advice tech company Twenty7tec.
Intended for advisers working in the financial sector, this session poses the questions you will need to answer to ensure that you will be compliant with the FCA’s new Consumer Duty from day one. You will also hear about the issues you may need to address following the initial implementation. And you will learn all about how technology can help you meet the FCA’s requirements by simplifying and automating the reporting process.
The webinar is hosted by James Tucker, Chief Executive of Twenty7tec, who is an expert in the innovative use of financial services technology to build strong customer relationships and meet statutory reporting requirements. He is joined by Bellevue Law’s senior consultant Chris Croft and Josh Skelding, Sales Director Twenty7tec.
As a seasoned executive and highly experienced commercial lawyer, Chris specialises in regulatory issues and the operational and business requirements of financial-service providers. He busts common misconceptions about the new Consumer Duty and provides actionable take-aways to help attendees meet their reporting obligations from the outset.
Josh has in-depth knowledge of the ways that technology can help advisers meet the new Consumer Duty and do what they do best – serving customers, instead of spending hours tracking and analysing data.
Chris Croft says:
“The Consumer Duty will provide an opportunity for businesses to improve customer service. However, we are likely to see many attempts – spurious or otherwise – by customers to use consumer duty as a basis for complaint over coming months and years. Which is why banks, building societies and advisers across the financial sector will need to take these duties very seriously. To get on track, I talk through the key questions you should be asking if you’re in Financial Services to prepare for the upcoming launch date and what you need to consider once the new duty is in force.”
Josh Skelding, says:
“Wealth managers will have to demonstrate that they gave the best advice possible to each customer, which is going to involve using better technology and documenting what’s been done over time on a client’s matters. Clear communication with clients will be key and I’m excited to share how technology can ease the pressure of the FCA’s Consumer Duty for advisers.”
The free-to-access video of the webinar will be launched at 12pm on Wednesday, 26th July, and you can watch it at any time thereafter.
For more details and to access the recording, please visit Eventbrite: https://www.eventbrite.co.uk/e/navigating-the-fcas-new-consumer-duty-tickets-676584330947