On 31 July 2023, new rules came into force for financial services firms. The new rules, known as the Consumer Duty, set a higher standard of consumer protection in financial services. All financial services firms are now required to review and update their products and services to ensure they are putting consumers at the heart of their business. The Spotlight: Consumer Duty Good Practice Examples online learning course provides:
- real-life examples of how other firms have updated and implemented processes and procedures to ensure they meet the new Consumer Duty requirements;
- case studies of how other firms have put their consumers at the heart of their products and services; and
- hints and tips on how to implement changes.
To evaluate the effectiveness of your Consumer Duty implementation, we would recommend starting off with the Consumer Duty Practice Diagnostic Tool. The Good Practice Examples course supplements the core understanding of the Consumer Duty provided in the Overview of Consumer Duty Regulations. For further support on planning how to mitigate those areas of weakness, consider purchasing the Spotlight: Consumer Duty Action Planning Process module or the Consumer Duty - Action Planning Workshop.
You can also purchase all four of the digital learning products together as the Consumer Duty Digital Learning Suite, representing a cost saving of 20%. Please visit the CII shop for further details.
To help you understand what products to purchase for your team, take a look at the Consumer Duty purchasing scenario under 'Useful links & downloads'.
Who is the Consumer Duty Good Practice Examples course for?
This online learning course is designed to provide a deeper, practical understanding of the new Consumer Duty and to understand how they might apply it within their own businesses by following examples set by others. Ideal for leaders and senior staff in your team or department, and Personal Finance professionals in small firms.
What will I learn?
Through the study of real-life examples and case studies, by the end of this course, you will be able to:
- interpret the new Consumer Duty requirements on firms and practitioners;
- analyse the four Consumer Duty outcomes; and
- analyse the ten Consumer Duty expectations.
How does the course work?
The course comprises of e-Learning modules and videos with a 1 hour total study time.
How long will I have access to my course materials?
You will have a period of 12 months in which to complete this module in RevisionMate.
How will I access my course?
You will receive an email with details of how to access the course materials within RevisionMate following purchase. This is typically within two working days of your order being placed, but may be longer, particularly if payment is not made by credit/debit card.
How is this course assessed?
There is no assessment for this course.
How can I show I have completed the course?
On successful completion of this course, you will be able to download a completion certificate.
Can I claim CPD for this course?
This Spotlight: Consumer Duty Good Practice Examples online learning course can be included as part of your CII/Personal Finance Society CPD requirement should you consider it relevant to your professional development needs.