Paradigm has announced a new online webinar to cover the FCA’s Consumer Duty Final Rules and Guidance.
Taking place on 11 August at 11am, the webinar, hosted by Paradigm’s head of consultancy, Graeme Stewart, will look in detail at the Rules and Guidance, covering off the key points, highlighting any changes from the initial consultation, and discussing firms’ responsibilities under the Consumer Duty and how they can meet them.
The session is aimed at the entire advisory community, including both mortgage and protection firms as well as investment and pension professionals.
The webinar ties in with further intermediary support available from Paradigm including the new Paradigm Consumer Duty Support hub launched last month – www.paradigm.co.uk/services/consumer-duty-support. The webinar will be 30 minutes long and will count as CPD for all who watch. Advisers can register by visiting: www.paradigm.co.uk/CPD/event-booking?EventID=394
The FCA proposed the new Consumer Duty rules as part of its Consultation Paper 21/13 as a means of ensuring ‘a higher level of consumer protection in retail financial markets’.
These new rules and guidance place higher expectations on firms with regards to the standard of care they provide to consumers. Advisers can view the final rules and guidance by visiting: https://www.fca.org.uk/publications/policy-statements/ps22-9-new-consumer-duty
Paradigm’s team of consultants offer bespoke consultancy support and guidance on the Consumer Duty tailored to individual firms’ requirements and are preparing firms for regulatory changes.
Following the summer break, Paradigm will be running a series of face-to-face CPD events, at which the Consumer Duty will be the core focus. Details of these sessions have been announced, and these will be open to all DA firms to attend. Find out more information and register here: www.paradigm.co.uk/CPD/events
Christine Newell, mortgage technical director at Paradigm Mortgage Services, said: “Our industry has been waiting for the Consumer Duty final rules and guidance for some weeks, and now they have landed we are keen to help firms understand what they mean, and the work that will be required. We have already been working closely with Paradigm firms for several months to help them with their preparations, and now we are looking at ways we can expand this support further than just our existing membership.
“This webinar aims to do just that, providing an initial overview, details of any significant changes from the consultation, and how firms might begin to process their new responsibilities and how they meet them. We are welcoming advisory firms, lenders, providers and other suppliers from across the industry to join us for this important overview.
“Paradigm is here to support firms at every step of the way with the Consumer Duty, and we have an extensive array of compliance and consultancy support to help all practitioners with these changes. I would strongly encourage any firms who are seeking support in this area or are unsure where to start to get in touch to understand where we can help. As always, our services are available on an ad-hoc basis without needing to sign up to a contract and with no strings attached. Ultimately what is important is that we support the advisory community to implement these changes within their firm for the benefit of the end client.”