Join Genius Software Solutions for a concise, expert-led session exploring the FCA’s evolving focus on consumer vulnerability and the Consumer Duty. Learn how to navigate regulatory expectations, implement best practices, and manage compliance—especially for firms operating across borders.
Webinar Topics:
- Understanding the Evolving Regulatory Landscape:
- The FCA's increasing focus on consumer protection and vulnerability.
- The impact of recent socio-economic pressures.
- The importance of Consumer Duty and vulnerability management for CICM members.
- Decoding the UK Regulatory Framework:
- In-depth look at the FCA's Consumer Duty: Principles, cross-cutting rules, and the four outcomes.
- Explaining FG21/1: Guidance on the fair treatment of vulnerable customers.
- Synergies and expectations: Integrating FG21/1 within the Consumer Duty framework.
- FCA's supervisory focus and expectations for the sector.
- Practical Implementation Strategies and Best Practices:
- Proactive and reactive approaches to identifying vulnerability.
- Building staff capability: Training, skills, and support mechanisms.
- Designing for vulnerability: Products, services, and processes.
- Effective customer support and communications.
- Implementing fair forbearance and debt management strategies.
- Monitoring outcomes: Data, metrics, and continuous improvement.
- Navigating Compliance Challenges and FCA Oversight:
- Common implementation hurdles and how to overcome them.
- Learning from FCA reviews: Examples of good and poor practice.
- Understanding FCA enforcement trends and priorities.
- Recommendations for robust compliance and risk mitigation.
- Cross-Border Considerations: UK Firms Operating in Europe:
- Overview of the European regulatory landscape for consumer protection and debt collection.
- Implications of key EU directives: Consumer Credit Directive (CCD) and Credit Servicers Directive (CSD).
- Post-Brexit compliance challenges for UK firms.
- Navigating GDPR: UK vs. EU data protection in cross-border collections.
- Comparative analysis: UK and European approaches to vulnerability and fair treatment.
- The role of European industry bodies (e.g., FENCA).
- Key Facts and Figures:
- UK customer vulnerability statistics: prevalence and key drivers.
- Consumer Duty impact indicators: firm preparedness and observed outcomes.
- Concluding Remarks and Key Takeaways: Summarising the essential actions for compliance and delivering good outcomes for vulnerable customers.
