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Consumer Duty Compliance Resources
The Consumer Duty is a step change in regulatory compliance...
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 from their products and services.
We have created a number of resources to assist firms getting ready for the regime from free-to-watch webinars to downloadable resource templates and tool-kits.
Consumer Duty Resources
In addition to the above webinars we have also created further, downloadable resources to assist you comply with the Duty. We offer:
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Consumer Duty Roadmap FREE
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Consumer Duty PRIN Checklist FREE
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Product Approval Process Template £80
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Open Product Review Template £80
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Closed Product Review Template £80
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Value Assessment Template £80
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Implementation Plan £40
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Consumer Duty Policy £80
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Consumer Duty Board Report £75
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NEW Consumer Duty Gap Analysis £90
Consumer Duty Roadmap
This short guide details the key steps you’ll likely need to complete to be ready for the Duty.
FREE
Consumer Duty PRIN Checklist
We have copied out the new PRIN 2A requirements into a more manageable format, you will be able to use the list as a checklist or starting point for a gap-analysis.
FREE
Product Approval Process Template
The Duty makes several changes to PRIN, including the need to have a product approval process in place. This is a template product approval process containing all required check points.
£80.00
Open Product Review Template
The Duty makes several changes to PRIN, including the need to undertake product reviews. This is a template document containing all the areas the FCA require you to review.
£80.00
Closed Product Review Template
The Financial Conduct Authority’s Consumer Duty makes several changes to PRIN, including the need to undertake product reviews on closed products. This is a template document containing all the areas the FCA require you to review.
£80.00
Value Assessment Template
The Duty makes several changes to PRIN, including the need to undertake Value Assessments. There are two complete templates, ready to be used.
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Value Assessment Template - for Distributors
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Value Assessment Template - for Manufacturers
£80.00
Implementation Plan
This template implementation plan for the Consumer Duty gives you a starting point when creating your own and allows you to double check you have included all areas in your own plan.
£40.00
Consumer Duty Policy
The FCA’s Consumer Duty came into force in 2023. A clear Policy forms the basis of a firm's implementation. This is a template policy that can be amended as required.
£80.00
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.
£75.00
Consumer Duty Gap Analysis
This complete template covers:
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Process and Policy
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Product Approval
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Value Assessment
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Communications
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Consumer Support
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Outcomes Monitoring
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Product Review
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Reporting
Outlining key questions to guide a comprehensive gap analysis review, this adaptable template supports day two compliance through proactive identification of any shortcomings, as well as enabling firms to take stock of the progress made during the implementation of the Duty.
£90.00