The webinar will discuss in detail the rules and guidance under the new Consumer Duty
Mortgage distributor Paradigm Mortgage Services is inviting the entire advisory community, including both mortgage and protection firms, as well as investment and pension professionals, to an online webinar that will discuss the final rules and guidance of the Financial Conduct Authority’s new Consumer Duty.
The webinar, scheduled on Thursday, August 11 at 11am, will discuss in detail the rules and guidance – covering off the key points, highlighting any changes from the initial consultation, and discussing firms’ responsibilities under the Consumer Duty and how they can meet them. It will be hosted by Graeme Stewart, Paradigm’s head of consultancy.
The webinar ties in with further intermediary support available from Paradigm, including the new Paradigm Consumer Duty Support hub launched last month. The webinar will be 30 minutes long and will count as CPD for those who watch.
The FCA proposed the new Consumer Duty rules as a means of ensuring a higher level of consumer protection in retail financial markets. These new rules and guidance place higher expectations on firms with regards to the standard of care they provide to consumers.
Read more: FCA to enforce new Consumer Duty.
Paradigm said its team of consultants offer bespoke consultancy support and guidance on the Consumer Duty tailored to individual firms’ requirements and are preparing firms for regulatory changes.
Following the summer break, Paradigm will also be running a series of face-to-face CPD events, at which the Consumer Duty will be the core focus. Details of these sessions have been announced on its website, and these will be open to all DA firms to attend.
“Our industry has been waiting for the Consumer Duty final rules and guidance for some weeks, and now they have landed we are keen to help firms understand what they mean, and the work that will be required,” Christine Newell, mortgage technical director at Paradigm Mortgage Services, said.
“We have already been working closely with Paradigm firms for several months to help them with their preparations, and now we are looking at ways we can expand this support further than just our existing membership.
“This webinar aims to do just that, providing an initial overview, details of any significant changes from the consultation, and how firms might begin to process their new responsibilities and how they meet them. We are welcoming advisory firms, lenders, providers, and other suppliers from across the industry to join us for this important overview.”
Newell added that Paradigm has an extensive array of compliance and consultancy support to help all practitioners with the changes.
“I would strongly encourage any firms who are seeking support in this area or are unsure where to start to get in touch to understand where we can help,” she said. “As always, our services are available on an ad-hoc basis without needing to sign up to a contract and with no strings attached. Ultimately, what is important is that we support the advisory community to implement these changes within their firm for the benefit of the end client.”
