The BVRLA has produced a Consumer Duty Checklist aimed at supporting Lenders to meet the Financial Conduct Authority (FCA)’s outcome rules deadline on 30 April.
Under the FCA's Consumer Duty, Lenders must ensure that their products provide fair value to retail customers and carry out value assessments of their products regularly. They must provide intermediaries with value assessment results without including sensitive information, allowing intermediaries to understand the product's intended value and meet their Consumer Duty requirements.
These resources are intended for guidance purposes only. To help members navigate Consumer Duty obligations, the BVRLA recommends seeking independent legal advice concerning your unique business requirements.
Download the checklist from the BVRLA website.
If members need further support, they should contact [email protected].
Also see Next Consumer Duty deadline approaches.
The BVRLA’s Learning & Development programme has three courses to help members implement the Consumer Duty regime in their organisations:
- Implementing Consumer Duty (Brokerage)
- Consumer Duty - Customer Service and Compliant Sales Professionals
- Consumer Duty - Supervising and Managing your teams
Any queries regarding the training can be directed to [email protected].
