The Personal Finance Society (PFS) and Chartered Insurance Institute (CII) have launched a Consumer Duty digital learning suite, adding to the toolkit of resources available to members to help them comply with regulations.
The suite was developed with financial service experts and includes courses and a diagnostic tool that provide practical insights and development strategies tailored to individual business needs.
Two in-person Consumer Duty action planning workshops will also run in October to complement the launch.
The ‘Overview of Consumer Duty Regulations’ course provides an introduction for personal finance professionals, with an introduction to regulatory requirements for firms and employees.
The ‘Spotlight: Consumer Duty Good Practice Examples’ course was designed for senior staff and leaders, providing greater depth and practical application of the regulations.
The ‘Spotlight: Consumer Duty Action Planning Process’ course offers a framework for prioritising consumer-centricity, compiling evidence, and driving cultural shifts within teams and firms.
This course was tailored for practitioners working in small firms and leaders of teams or departments in medium-sized firms.
The ‘Consumer Duty Practice Diagnostic Tool’ was designed to identify weaknesses in implementation of Consumer Duty and is tailored to practitioners in small firms and leaders of teams or departments in medium-sized firms.
The PFS will run interactive in-person ‘Consumer Duty Action Planning Workshops’ on 19th and 25th October to develop understanding and provide practical ideas and advice to support those in the early stages of implementation.
Don MacIntyre, interim CEO for the PFS, said: “We are proud to introduce the Consumer Duty digital learning suite, which builds on the significant resources already developed by the PFS to meet business needs.
“I would encourage all finance professionals to identify and take the steps needed to drive our sector forward, embracing the positive shift in culture intended by the FCA with the introduction of its Consumer Duty regulations.”
