A new NACFB Consumer Duty hub has been launched today providing a suite of free resources for the Association’s Members to use.
The FCA’s Consumer Duty represents one of the biggest shifts in regulation for 30 years, and all regulated NACFB Members – regardless of a firm’s size or scope – must adapt their operating culture to meet the regulator’s revised expectations.
The first deadline is upon us, by Monday 31st October all firms should have confirmed their Consumer Duty implementation plan. The new Consumer Duty hub hosts three key resources to ensure this initial deadline is met, providing firms with a practical working knowledge, alongside the materials, documents, and a range of other solutions to ensure all regulatory thresholds are met.
In addition to template documentation and online learning modules, the NACFB compliance team will also be hosting regular virtual Consumer Duty clinics to provide insight, steering, and mentoring throughout all phases of the regulatory embedding.
The NACFB’s head of compliance, James Hinch, said: “The process of embracing Consumer Duty is a journey – one we are at the very beginning of. We strongly encourage all Members to become enthusiastic early adopters, to help bolster and maintain the trade body’s kitemark of quality.”
The NACFB Consumer Duty hub can be accessed online here.