Members can now access an exclusive checklist to support them in preparing their Consumer Duty board report, which is due later this month. The guidance was launched to delegates at the BVRLA’s recent Compliance Forum, hosted by DWF in London. There, attendees also had the chance to hear about CCA Reform, conduct and culture, vulnerable customers, Consumer Duty and ESG, as well as share insights and find out more about what’s on the horizon.
The advice that came out of the event regarding the Consumer Duty Board Report was that it should be authentic and honest, while demonstrating accountability and a plan of action. The BVRLA launched the Board Report Checklist at the Forum: BVRLA Checklist: Preparing for the Consumer Duty Board Report.
The Checklist is for members to guide assessment of their board reports, whether completed or in progress. It will allow them to consider if they’ve included the right aspects and anything they may have missed.
The Financial Conduct Authority (FCA) intends the production of the Board Report to be used as an assessment tool internally for firms to see where they may or may not be successfully delivering good outcomes to customers under the Consumer Duty.
The next Compliance Forum will be on Wednesday 6 November.
BVRLA Checklist: Preparing for the Consumer Duty Board Report.
