Consumer Duty assistance

On 27th July 2022, the FCA published its final rules and guidance on the new Consumer Duty in Policy statement (PS22/9) – A New Consumer Duty, which will set higher standards of consumer protection across financial services. The intention is that it will “fundamentally improve how firms serve consumers”

The new duty affected all regulated firms who, from July 2022, had 12 months to implement the new requirements for the bulk of retail financial products and services.  From the end of July 2024, the Duty will fully come into force and apply to all closed products and services.

Here at Cosegic, we helped all our clients to implement the new Consumer Duty, and have a full set of document templates that can help firms to benchmark their arrangements. In addition, we have created a new online training course that is applicable to all employees across all types of financial services firms, which will help educate them about the new rules.   

Alternatively, if you would like a more bespoke solution for your firm, we are happy to take your call and determine an outcome that best suits the needs of your firm.


How we can support you

Consumer Duty template documentation

Compliancy Services have developed templates of the key documentation and policies that will assist firms to ensure they are compliant with the new Consumer Duty. The templates are appropriate for all types of firms and act as a good basis from which they can create their own personalised, firm-specific Consumer Duty documentation.

Our pack includes the following documents:

  • Product Governance Policy
  • Product Governance Approval Template
  • Conflicts of Interest Policy
  • Vulnerable Customer Policy
  • Consumer Duty and Treating Customers Fairly Policy

Price: £1,750

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Company-wide Consumer Duty online training (suitable for all firms)

Our CPD accredited Consumer Duty Online Training course is 45 minutes long and is designed to give all staff a good overview and understanding of what the new Consumer Duty is and why it has been introduced. It explains what the Consumer Duty cross-cutting rules and Four Outcomes are, including examples which will help staff recognise how they and their firm can provide good outcomes, or could cause potential harm to customers.

The course also highlights the FCA’s expectations in relation to how firms handle vulnerable customers and explores the link between Treating Customers Fairly (TCF) and Consumer Duty. At the end of the course there is an assessment which will allow staff to test their knowledge and CPD hours will also be earned along with a completion certificate.

Price: £40 per person. Discounts are offered for group bookings.

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Consumer Duty resource bundle

Unsure where to start? We have produced a resource support bundle to help you understand and implement the new Duty. Our bundle includes:

Consumer Duty webinar - July 2022

To help firms understand and implement the new duty we hosted a webinar that covered an overview of the new rules, key dates, how to evidence adherence to The Duty, individual responsibilities and the four outcomes. 

Consumer Duty webinar - April 2023

Our most recent webinar ran through the key actions firms will need to take in advance of the upcoming implementation dates and also summarised the key messages from the FCA’s recent “Dear CEO” letters and implementation plan reviews.

Four outcomes guide

A supporting guide which outlines some of the key questions under the four outcomes identified by the FCA, which will help you to establish whether you are meeting your obligations or whether you need to implement changes.

Consumer Duty FAQ panel session

Our expert panel identified the most frequently asked questions from our January webinar and recorded another panel session where we attempted to answer those questions and issue further guidance to firms. This session can be viewed online and downloaded as an MP3. 


Related Consumer Duty resources

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Consumer Duty: a wake-up call to all? Dear CEO letter to Wealth Managers and Stockbrokers

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Terms and Conditions Apply

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Regulatory reminder: Outcomes testing

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Consumer Duty FAQ - 3 weeks to go

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