the consumer duty essentials online learning

Consumer Duty Essentials – Online Learning

This online course aims to provide learners with an understanding of the essential elements required to ensure they meet the standards of the Consumer Duty regulations. With this e-learning course, learners will:

  • Explain what the Consumer Duty is and why it is important
  • Identify when Consumer Duty should be considered and applied
  • Describe the responsibilities firms and employees have for their customers under the Consumer Duty
  • Understand the FCA’s expectations for firms in implementing the Consumer Duty

Course Introduction

In July 2022, the Financial Conduct Authority (FCA) published guidelines for a Consumer Duty, marking a significant development in the regulation of financial services. Since then, these regulations have been implemented and it is expected that organisations embed them from the top down.

The Consumer Duty comprises an overarching principle, new rules, and expected outcomes, all aimed at improving standards of care for customers in retail financial markets. It requires firms to put their customers’ needs first at every stage of the product or service lifecycle.

The aim of this short online learning course is to provide an overview of the essential aspects of the Consumer Duty and outline what it means for firms and the people that work for them.

Course Content

Module 1 – Consumer Duty - Essentials
  • Describe the components that make up Consumer Duty
  • Explain the scope of the duty and who it applies to
  • Establish when Consumer Duty must be considered
  • Identify financial activities that are within the scope of Consumer Duty
  • Describe what Consumer Duty means for firms, their employees and customers
  • Clarify what good ‘outcomes’ the FCA expects firms to focus on for customers
  • Review scenarios to determine where Consumer Duty applies
  • Deliver good outcomes for customers and groups of customers by following the guidelines
  • Explore what the FCA expects from firms and their employees under the Consumer Duty
  • Establish the responsibilities and obligations of firms, board members, third parties, management and staff under the Duty
  • Recognise the responsibilities that consumers have
  • Explain the concept of reasonableness and how this applies to Consumer Duty
  • Identify key questions firms should ask to help ensure they provide a standard of care under the Duty
  • Test your knowledge and understanding of the Consumer Duty
  • Complete knowledge checks throughout to help embed learning
Module 2 – Assessment and CPD certificate
  • A chance to test your knowledge of the topic with scoring
  • The e-learning course comes with free CPD certificates for the learners

Customisable

All content can be adapted and altered to suit your needs. Courses are white-label as standard, but can include logos and branding where required. We can also provide AI generated language translations on demand.

Updates

All content is regularly reviewed and updated to ensure technical accuracy, best practice and legal compliance for your learners. Updates are all automatically made to content.

Certification

Your employees will receive personalised and dated certificates upon successful completion of our CPD certified e-learning courses. All courses have relevant accreditations.

Integration

Deliver e-learning courses via your own branded learning portal provided by us or upload our regularly updated courses to your own LMS if you would prefer.

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