In our third webinar of this 4 part series, we looked at the consumer understanding outcome under Consumer Duty. The goal of the consumer understanding result is to make sure that firms assist and empower customers to choose financial products and services wisely. Firms will have to give customers the information they require when they need it, and in a format they can understand.
The FCA has published new product governance standards that are relevant to all sectors. The criteria, however, won't be applicable to products and services covered by the present product governance laws found in PROD 3 (MiFID financial instruments), PROD 4 (IDD and pathway investments), or PROD 7 (funeral plans).
If you would like to watch the recordings of the other webinars in the series, you can watch them here.
How can we help you?
For more information about this webinar series and how we can help you with your Consumer Duty arrangements, implementation support, framework review, or ongoing support call 020 7436 0630 or email info@thistleinitiatives.co.uk.