The FCA has published their policy statement PS22/9 on the new Consumer Duty. The changes will affect your T&C schemes. View the video to find out why. Amongst other things you will need to review
The structure and content of your T&C Procedures
The training needed for new starts
The way your advisers and support staff interact with customers
The standards you need to determine competence
The way you conduct FIT and proper assessments under the Certification Regime
How your T&C MI contributes to the effective governance of the new consumer duty
Whether you need to introduce T&C approaches to other business areas
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