Consumer Duty: The New Normal eLearning

This Consumer Duty eLearning module provides staff with an overview of the behaviours required to comply with the Consumer Duty, and the anticipated outcomes for consumers.

This is a new module for 2024 which takes into account the developments in the Duty since its introduction on 31st July 2023. It, therefore, reflects the following:

• The sector-specific ‘Dear CEO’ letters outlining the FCA’s expectations
• The key issues highlighted in the FCA’s implementation review in February 2024
• Examples of how the Duty has been used by the FCA

This module and the end assessment can be tailored to incorporate client-specific content.

For firms that require an introductory level to the Consumer Duty, our Consumer Duty eLearning module is also available, ideal for those who are new to the Duty.

The course is suitable for all staff.

• Introduction
  • Short video providing an overview of the Consumer Duty
  • Where are we now?
  • What does this mean in practice?
    
    
• What does the Duty mean for you and your firm?
  • What does the Duty mean for firms?
    • The consumer principle
    • The cross-cutting rules and consumer outcomes
    • The link to vulnerable customers
      
      
  • What does the Duty mean for you?
    • The conduct rules
    • The cross-cutting rules
    • Additional responsibilities of SMFs
    • Interactive case studies
      
      
  • What does ‘good outcomes’ mean in practice?
    
    
• Outcome 1 – products and services
  • The outcome in a nutshell
  • Short video illustrating the purpose of the outcome
  • Key requirements under the Duty – product design and appropriate distribution
  • Case study
    
    
• Outcome 2 – price and value
  • The outcome in a nutshell
  • Short video illustrating the purpose of the outcome
  • Key requirements under the Duty – what does fair value mean in practice?
  • Case study
    
    
• Outcome 3 – consumer understanding
  • The outcome in a nutshell
  • Short video illustrating the purpose of the outcome
  • Key requirements under the Duty – what does consumer understanding mean in practice?
  • Case study
    
    
• Outcome 4 – consumer support
  • The outcome in a nutshell
  • Short video illustrating the purpose of the outcome
  • Key requirements under the Duty – what does good support look like?
  • Case study
    
    
• Conclusion
  • Highlighting the link between the Duty and the firm’s purpose and values
    
    
• Assessment
  • 10 questions to test understanding of the course content