Designed for United Kingdom
Course running time is 45 Minutes
This course is customisable
In our Consumer Duty course, we dive into the principles and practices that empower consumers and promote trust in the realm of retail financial services. In this comprehensive e-learning compliance course, we provide you with the knowledge and skills necessary to understand and fulfil your role as a responsible consumer.
The Consumer Duty, introduced by the Financial Conduct Authority (FCA), is a vital framework designed to ensure better outcomes for consumers and enhance public confidence in retail financial services. It sets higher and clearer standards for firms, emphasising the importance of acting in good faith, avoiding foreseeable harm, and supporting consumers in achieving their financial objectives throughout the entire firm-consumer relationship.
As a consumer, understanding your rights and responsibilities is crucial in navigating the complex landscape of financial services. This course is designed to equip you with the necessary tools and insights to make informed decisions, protect your interests, and achieve your financial goals.
Throughout the course, you will explore various key topics related to the Consumer Duty, including:
1. The fundamental principles of Consumer Duty: Gain a comprehensive understanding of the core principles that underpin the Consumer Duty framework. Discover how these principles shape the behaviour of financial firms and ensure fair treatment for consumers.
2. Avoiding foreseeable harm: Learn how to identify potential risks and hazards in financial services. Explore strategies for mitigating these risks and safeguarding yourself against harm.
3. Acting in good faith: Explore the concept of acting in good faith and its significance in the firm-consumer relationship. Understand how firms are expected to demonstrate integrity, honesty, and transparency in their dealings with consumers.
4. Supporting consumer financial objectives: Discover how financial firms can support consumers in achieving their financial goals. Learn about the various tools, resources, and guidance available to help you make informed decisions and achieve long-term financial success.
By the end of this course, you will have gained a comprehensive understanding of Consumer Duty and its implications for both consumers and financial firms. Armed with this knowledge, you will be better equipped to navigate the financial landscape, make informed decisions, and hold firms accountable for their actions.
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