Are you Ready for the New Consumer Duty?

Consumer Duty comes into force on 31 July 2023 for all new and existing products and services that are open for sale or renewal.

The FCA has stated that they will prioritise the most serious of breaches and act swiftly and assertively where it finds evidence of harm, or risk of harm to consumers, so it is imperative to act accordingly.

If your firm still needs to identify gaps in your Consumer Duty, then take ComplyPortal’s Consumer Duty Readiness Assessment where our regulatory consultants have prepared questions and scoring to guide you through assessing your readiness.

Our assessment is broken up into 7 scoring questionnaires covering the following:

  1. Corporate Governance
  2. Customer Identification
  3. Existing Products and Services
  4. New Products and Services
  5. Price and Value
  6. Consumer Understanding and Support
  7. Staff Training

Buy it now for £495 plus VAT.

You will get online access to all 7 questionnaires via our ComplyPortal platform, where you can complete, review, and download your Consumer Duty readiness assessment.

Need Additional Assistance?

Our readiness assessment is just the start. Our expert consultants at Complyport are helping to make sure that firms are ready for the July 31st 2023 deadline, with support including:

  • High level Consumer Duty Readiness Report – Using our online assessment tool, Complyport will undertake a review of your firm and provide a report of where it is with its Vulnerable Customer Management (“VCM”) and Consumer Duty implementation.
  • PS22/9 – A new Consumer Duty Impact Assessment – Complyport can undertake a Consumer Duty Impact Assessment (CDIA). Following this review, we will provide a report that will act as a roadmap, outlining what needs to be completed and by when to ensure compliance with the new rules.
  • Ongoing support – Complyport can also provide firms with support now, and on an ongoing basis, to ensure full compliance with PS22/9. Our ongoing support services including Policy review and authoring, SM&CR advice, reviews of product offerings and Financial Promotions and more.

Contact us today if you would like a consultant to review your completed questionnaire responses or for additional consultative services.

Contact Us – Consumer Duty Assistance