Clare Beardmore, Head of Broker & Propositions, L&G Mortgage Club
The newly proposed Consumer Duty (CD) is a topic on everyone's agenda at the moment, especially with the Policy Statement being produced on 27th July.
With an increased focus on the end consumer and a key consideration being how firms treat their most vulnerable customers, the Financial Conduct Authority (FCA) has clearly laid out its expectation in not one, but two consultation papers on this particular topic.
CP 21/13 set the scene, laying out the FCA's thinking and asking for views from regulated firms and CP 21/36 delivered feedback on the initial paper, whilst also delivering more focused thinking from the FCA on what the new CD would bring to firms and individuals alike. This will be the first of a two part series, where we initially consider the published CPs and discuss what this means from a personal perspective, with the second part of the series (to be broadcast in Q3) considering the published Policy Statement.
The FCA have clearly stated that the aim for introducing the new Consumer Duty is to drive a fundamental shift in industry mindset, but what does this really mean and what part does each individual, regardless of their role and status within an organisation, have to play in this? We will be considering the new Duty from that personal perspective and what this means for firms and their people processes.
Clare Beardmore, Head of Broker and Propositions at Legal & General Mortgage Club will chair the webinar as part of the discussion. Hosting the webinar is John Somerville, the Head of Financial Services at the London Institute of Banking & Finance (LIBF), joined by Julie Pardy, Director of Regulation, and Nic Dent, Head of Customer Engagement at Worksmart Ltd.
Clare Beardmore, Head of Broker & Propositions, Legal & General Mortgage Club
Join our head-to-head debate from a Lender and an Adviser viewpoint on the impending Consumer Duty requirements and how this new regulation could actually be good news for the end customer, plus insight into how the firms themselves will address the new requirements.
Hosted by Clare Beardmore, Head of Broker & Propositions, Legal and General Mortgage Club
Guest Speakers: Kay Leslie, Compliance Director HL Partnership and Jon Cole, Head of Risk, Mortgage Distribution, HSBC
Lucy Lewis, Lender Account Executive at Legal & General
Now that we have the widely anticipated Consumer Duty Policy Statement and final rules from the FCA, it’s time to consider what this means for L&G Mortgage Club members.
With an increased focus on the end consumer and a key consideration being how firms treat their most vulnerable customers, the FCA has been very clear about what changes they expect from firms through the implementation of its new Consumer Duty.
Now with the newly published policy statement PS 22/9, supported by Finalised Guidance publication FG 22/5, it’s time to talk planning, project planning, implementation, MI and much, much more. So, join us as we debate what firms and individuals might consider as part of their project planning to deliver the fundamental shift in mindset that the FCA say they are looking for.
Lucy Lewis, Lender Account Executive at Legal & General, will chair the webinar as part of the discussion. Hosting the webinar is John Somerville, the Head of Financial Services at the London Institute of Banking & Finance (LIBF), joined by Julie Pardy, Director of Regulation, and Nic Dent, Head of Client Engagement at Worksmart Ltd.
Sophie Holloman & Zara Bray, Key Relationship Managers, Legal & General Mortgage Club
With the 31st July Consumer Duty deadline looming, join our co-hosts Sophie Holloman & Zara Bray for an extra special coffee morning focused on this hot topic that affects all broker firms. In conversation with Stacy Penn, Senior Policy Adviser from the Association of Mortgage Intermediaries (AMI), they will be providing an overview of the Consumer Duty requirements for firms, the current timeline, frequently asked questions about the new duty and what Legal & General Mortgage Club can do help.
Don’t miss out on this important discussion to help your firm navigate this fundamental change to your business, to ensure that clients’ best interests are at the heart of everything you do.
Zara Bray, Key Relationship Manager, Legal & General Mortgage Club
The topic on everyone's minds... Consumer Duty.
Zara Bray, Key Relationship Manager at Legal & General Mortgage Club, will meet with Stacy Penn, Senior Policy Adviser at the Association of Mortgage Intermediaries to discuss the latest in Consumer Duty, including:
What is a Fair Value Statement? (And what is it not?)
Vulnerable Customers - how can we best support them?
Broker Fees - doing the right thing for your clients.
Customer Surveys - is it customer understanding or just customer satisfaction?
Questions from Lenders - what questions do you have to answer?
Later Life - what support is there for the older borrower?
Come prepared with your questions for Zara and Stacy in this live and interactive session, on Tuesday 16th May.
Tina Cooper, National Account Manager, Halifax Intermediaries
Vulnerability can affect anyone at any time of their lives.
Firms need to pay close attention to the needs of customers and recognise characteristics of vulnerability. They must provide fair value, avoid causing foreseeable harm and support customers; communications must be understood by customers with characteristics of vulnerability and a firm’s approach to monitoring must identify where communications are not being understood and modifications and / or remedial activity is required to be carried out.
Tina Cooper, National Account Manager from Halifax Intermediaries, presents this informative webinar, to help advisers understand their requirements and responsibilities when supporting vulnerable customers, under Consumer Duty.
Zara Bray, Head of Broker, Legal & General Mortgage Club
Join us for our 3rd and final webinar in our Consumer Duty Series.
Zara Bray, (newly appointed) Head of Broker at Legal & General Mortgage Club, and Stacy Penn, Senior Policy Adviser at the Association of Mortgage Intermediaries (AMI) will be meeting again to discuss where we currently are with the approaching Consumer Duty deadline, and what resources are available to support advisers.
Come prepared with your questions for Zara and Stacy, as this will be a live session!