Financial Conduct Authority’s Post

Good outcomes for Consumers

#Consumerduty compliance #DACB #Nexus will audit and report on outcomes in your #supplychain To learn more or request a demo please contact @alexpaterson or me

Well worth checking this out. Essential in fact. We must remember that CD is a cultural change. ‘If we were to start again…..?’ #consumerduty #compliance #financialplanning #financialadvers #financialadvisors

Couldn't agree more with Sheldon Mills. However, as I am about to reveal in my latest update for the FCA Executive and newly appointed Cabinet Ministers, my customers, tens of millions of workers and thousands of Post Office Sub Postmasters alike, have suffered serious financial harm due to Professionals outside of UKFS. Unethical Corporate Culture has been exposed via the Horizon Post Office Inquiry, which highlights the huge chasm between the standards UKFS is being required to adopt under the Consumer Duty and other Professions like Accounting, Law and Tech Sectors. This next Government must tackle corruption and cover ups that undermine the UK's intentions to back Innovators and become the next Silicon Valley. Bullying, Intimidation, Harassment and Humiliation by Incumbents with deep pockets are assisted by archaic laws designed to help protect the wealthy and target 'the little people'. When the Consumer Duty Law can be so easily ignored by other professionals, it is problematic and undermines trust. And the stakes could not be higher, since I expect that £3bn every payday continues to add ever higher Restitution Funding liabilities for 9 in 10 UK workers. It's time for a fairer, cleaner and more equitable financial eco-system that rewards savers for adopting the UN's SDG objectives. Just Saying 🤷♂️ #BUOM

FCA - The prize is huge if we get this right - Agreed! FCA - Data is key - Our data analyst and bespoke software and compliance monitoring system captures the process our AR’s follow and the outcomes - 100% file checks, who does that? FCA - The aim is the vast majority of us in the UK having trust and confidence in Financial Services. Fiducia our name for 23 years is Latin for Trust Security and Confidence. No like minded competition aligned with the FCA. Even more reasons to become an AR of the Fiducia Commercial Network Who is helping protect and grow your business? Chat with Mark Grant Michelle Bateman MCIM Robert Sims Mike Sharp Ann Walters Anthony Scott Lisa Pilgrim Mark Birchall Cherie Caygill-smith Lynn Jardine Gillian Burke Christopher Brown Jaclyn Taylor #financialservices #consumerprotection #business #opportunity

💬 Great to hear from Sheldon Mills, Executive Director at the FCA, as he discusses the principles of the Consumer Duty, emphasising the crucial role of data in evaluating whether firms are delivering positive outcomes for customers. #FCA #Data #Regulation #ConsumerDuty #Analysis

With the Consumer Duty Board Reports due very soon, it's important to have a very good understanding of your firms data and how important it is at helping identify trends, RCA and monitoring those customer outcomes

Very important update from the FCA. If your firm is struggling with your data management for Consumer Duty please reach out for a friendly discussion as the EKAI platform is designed for complying with the regulation and can help you.

Consumer Duty audits…one after the other, after the other… ✍ The 31st July Consumer Duty Board Report 📋 deadline is fast approaching for in-scope firms, and we’ve been busy helping firms get their annual assessment underway. Reach out to us at Compliance Angle if you need last-minute assistance. #consumerduty #boardreporting #annualassessment #financialconductauthority

Gen Z appears to be driving financial optimism with 80% reporting better than planned finances in Q4 2023. Download the report to see how other generations are coping: http://transu.co/6049RK9GD #ConsumerPulse #ConsumerOptimism