The FCA have focused on consumer duty since it came into force on July 31st 2023. Whilst some of the guidance remains unclear, it is apparent that insurance firms need to make sure they have implemented Consumer Duty, and that their products are indeed delivering Fair Value to customers.
Learning Objectives
At the end of this session, delegates will be able to:
- Summarise Consumer Duty
- Describe the importance of fair value
- Explain the importance of Management Information – good quality MI will allow the board of a firm to make informed decisions regarding the quality of its products and services, and thus, comply with the firm’s obligations under the Duty.
About the Presenter
Angus Irvine – Principal Consultant, IQ-EQ
Angus’s career in the City of London spans over 20 years. Before working in financial services, Angus completed a Masters in Agribusiness Management and worked with legislators in the UK and US. In the past 10 years he has gained extensive experience helping to set up regulated firms, both in the UK and offshore. In this time, he has also served as Head of Compliance and Chief Executive of an FCA regulated FX and CFD broker.
Angus has significant experience on both the buy and sell side of the Investment Firm spectrum, and currently supports insurance firms with ongoing compliance support.
