Join Hogan Lovells Financial Services lawyers and consultants on Tuesday 6 September for the next webinar in our series on the new Consumer Duty.

The FCA’s final rules were released on 27 July (read our response here), and your firm now needs to be preparing an implementation plan in order to meet the deadline of 31 October for board approval.

In this session, we will discuss:

• The current state of play and the key changes in the final rules
• What material is required for the October 2022 deadline, and how senior management should approach the assessment of the implementation plan
• Key issues you need to consider

You will also have the opportunity to ask questions to our team.

This is the third in a series of webinars we are running to show how we can help your business from now until the first implementation deadline (END OF JULY 2023), and beyond.

What is Consumer Duty?

The FCA’s proposed implementation of the new principle of Consumer Duty marks a significant shift in the regulator’s expectations of firms' treatments of their customers and its approach to oversight of firms operating in the retail space. It is a wide-ranging initiative which will impact:

• The business model;
• Governance and oversight; and
• Ongoing management.

What are the key dates?

• 31 October 2022 – Board approval of implementation plans
• 30 April 2023 – target completion of reviews in order to share with distributors
• 31 July 2023 – the Duty will apply to all new products and services, and all existing products and services that remain on sale or open for renewal
• 31 July 2024 – the Duty will come fully into force, and apply to all closed products and services

Click here to download our Consumer Duty brochure

Watch our series on-demand

Episode 1: Project approach
Click here to watch the recording.

Episode 2: Planning and running an effective project
Click here to watch the recording.

Event Contact

Ria Pal
M&BD Manager, Financial Services
ria.pal@hoganlovells.com