Consumer Duty of Care (CDOC)
28 April, 2022LIBF Webinar
Julie Pardy, Director of Regulation and Market Engagement, Worksmart
Nic Dent, Propositions & Customer Engagement, Worksmart Limited
The newly proposed Consumer Duty of Care (CDOC) is a topic on everyone's agenda at the moment. With an increased focus on the end consumer and a key consideration being how firms treat their most vulnerable customers, the Financial Conduct Authority (FCA) has clearly laid out its expectation in not one but two consultation papers on this particular topic.
CP21/13 set the scene, laying out the FCA's thinking and asking for view from regulated firms and CP 21/36 delivered feedback on the initial paper whilst at the same time delivering more focused thinking from the FCA on what the new Consumer Duty would bring to firms and individuals alike.
The FCA have clearly stated that the aim for introducing the new Consumer Duty is to drive a fundamental shift in industry mindset.
This webinar was hosted by John Somerville, our Head of Financial Services. He was joined by Julie Pardy, Director of Regulation and Nic Dent, Head of Customer Engagement at Worksmart Ltd. They discussed and debated the new duty through the lens of the individual.