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With fundamental regulatory change like the introduction of the Consumer Duty, the problem for firms both large and small often isn’t with planning – many strategies are well developed – but with execution. The Consumer Duty series tackles the implementation of Consumer Duty head-on to provide PIMFA member firms with a well-structured approach for Project Leads, Compliance & Risk Heads alongside Senior Managers to confidently meet the July deadline.

You will return from each of the three sessions with a set of tools and approaches you can use to:

    • Improve your ability to organise, manage, and prioritise the key requirements of the Duty
    • Anticipate and avoid pitfalls that could derail your project plan.
    • Respond to FCA’s latest announcements and instructions.
    • Address your firm’s most critical Consumer Duty issues.
    • Feedback and answers to your Consumer Duty execution challenges

Session Two: Engaging with Third Parties

PIMFA member firms are relying significantly on their third parties to transmit quality information, particularly relating to the consumer support outcome.  Firms need to give detailed thought to the type, timing and volume of information they need from their third-party service providers to test consumer outcomes.

Furthermore, manufacturers and distributors are required to share information required by each for monitoring outcomes. While augmentation of existing templates may be helpful, these are unlikely to meet all firms’ requirements.

This session (that you can attend in person or online) will focus on:

    • Engagement strategies with third-party suppliers to access information to monitor customer outcomes.
    • The additional information you may need to share between manufacturers and distributors, and what is the most efficient way to achieve this.

By the end of this session, you will be able to:

    • Know what’s an appropriate level of detail you will require from product providers.
    • Recognise the pitfalls of relying on PROD and COLL for meeting the Consumer Duty Products and Services and Fair Value outcomes.
    • Learn how large and small firms are effectively and efficiently gaining the information they need from their third-party suppliers.
    • Address information flow challenges, exploring with peers how to optimise information flow between manufacturers and distributors.

Format and approach

You can choose to attend this two-hour session in person at the PwC London office or online. However you choose to participate, this session is run as an interactive learning experience that brings the research and experience of the PwC Wealth Management team together with senior managers who want to strengthen their firms’ approach to Consumer Duty implementation. In this online workshop, you will be broken into smaller discussion groups to work through exercises, discuss scenarios and collaborate with your peers on solutions to overcome even your most challenging execution obstacles.

Nick Hawker
Senior Manager
PwC

More about Nick Hawker

Nick is an experienced Senior Manager in PwC’s Asset and  Wealth Management Risk & Regulation practice with over 12 years experience in the asset and wealth management industry.

Nick has been working recently with a number of UK asset managers, wealth managers, and platform businesses on elements of their Consumer Duty programmes.  Nick has particular expertise in helping clients with designing an approach for delivering on the product and services, and the price and value outcomes.

Nick has previously led multiple projects assisting firms with implementing the FCA’s assessment of value requirement, many elements of which now map to the new Consumer Duty.

Jazpreet Rana-Patel
Senior Manager
PwC

More about Jazpreet Rana-Patel

Jazpreet is a specialist in Asset and Wealth Management regulation and has strong experience of working closely with and advising senior management on FCA regulatory requirements and industry best practice. She has successfully assisted clients with the implementation of regulatory development and change projects, and is currently focussed on providing advice to investment firms on their Consumer Duty readiness.

Prior to joining PwC Jazpreet worked at the FCA for 4 years within the Asset Management Supervision Department.

Victoria Akintomide-Akinwamide
Senior Associate
PwC

More about Victoria Akintomide-Akinwamide

Victoria specialises in Asset and Wealth Management Regulation. She supports firms with meeting conduct requirements with a particular focus on product governance, board effectiveness and tech enabled regulatory solutions. She recently advised a large UK Asset and Wealth Manager on how to better meet the FCA’s governance expectations and is supporting firms with their Consumer Duty readiness.

Prior to joining PwC, Victoria worked in the authorisation and specialist supervision teams at the FCA.

 

Booking and Registration Information

If you are a PIMFA member please ensure you have logged in to register for this webinar, podcast or event and receive your discount. If you are unsure of your login details you can request a new password via our website or email us to reset it for you. If you are unsure whether you belong to a PIMFA member firm please register for an account or email us and we will confirm this for you. You can still register for our webinars, events and podcasts as a non-member (charges apply in some instances). Requests may take up to 48 hours to process.

Tickets

Details

Date:
23rd May 2023
Time:
09:30 - 11:30
Cost:
£300 - £350
Event Categories:
,

Other

CPD Hours
2
Email Address:
learning@pimfa.co.uk