Course description
The implementation of the Consumer Duty from August marks a step change in the regulatory expectations of all firms. The Duty applies directly to all firms involved in retail activity, but also has implications for firms involved in wholesale and institutional business.
The Consumer Principle, cross-cutting rules and specific consumer outcomes have resulted in major changes to conduct requirements and reporting arrangements for all retail and retail-connected businesses. Significant changes have been brought about to the obligations under the Senior Managers and Certification Regime and also to the revised Conduct Rules applicable to all staff.
To support the Consumer Duty, firms will need to adapt their HR policies and procedures, including their remuneration arrangements, incentive schemes and their performance management, Training and Competence and appraisal regimes.
This workshop has been designed to help participants understand the implications of the Duty from a human resources perspective, to enable them to implement appropriate changes to their firm's arrangements and to develop approaches which will place customer outcomes at the heart of their firm's culture.
Upcoming start dates
Suitability - Who should attend?
This workshop is appropriate for all human resources specialists and those responsible for HR in their firms. The workshop will also benefit staff who are new to HR or who are assuming HR responsibilities and need to understand how these can be undertaken effectively while meeting regulatory obligations.
Outcome / Qualification etc.
Following the course, a certificate of attendance will be provided to demonstrate their CPD activity to a professional body.
Training Course Content
Attending this focused half day course will help you:
- Review the areas of HR activity impacted by FCA regulation
- Identify the principal features of the Consumer Duty
- Examine how the Consumer Duty interacts with the SMCR and its implications for operating the Senior Managers Regime
- Consider the impact of the Consumer Duty on fitness and propriety
- Highlight the implications of Conduct Rule 6
- Explore the impact of the Consumer Duty on culture initiatives
- Identify ways in which the Consumer Duty obligations can be embedded within a firm’s HR policies and procedures
Course delivery details
The course programme will comprise a blend of trainer presentations, group discussion, practical examples and case studies. There will be ample opportunity for questions, experience sharing and networking. All course materials will be provided.