The New Consumer Duty

At Get Authorised, we understand the importance of regulatory compliance and the challenges firms face when seeking authorisation from the Financial Conduct Authority (FCA). With the introduction of the New Consumer Duty, it has become even more critical for firms to demonstrate their commitment to consumer protection and fair treatment. Our firm is well-equipped to assist you in navigating the authorisation process while considering the requirements of the New Consumer Duty. Here's how we can help:

1. Comprehensive Compliance Assessment:

We will conduct a thorough assessment of your existing processes, policies, and procedures to identify any gaps or areas that may need improvement to align with the New Consumer Duty requirements. Our team of experts will work closely with you to ensure that your firm meets the necessary compliance standards.

2. Tailored Application Support:

Preparing an FCA authorisation application can be complex and time-consuming. Our experienced consultants will provide tailored support throughout the application process, ensuring that all necessary documentation and information are included. We will help you articulate how your firm meets the obligations of the New Consumer Duty, highlighting your commitment to consumer protection and fair treatment.

3. Governance and Risk Management Frameworks:

We will assist you in establishing robust governance and risk management frameworks that align with the expectations set by the FCA. This includes defining clear accountability structures, implementing effective risk assessment and mitigation strategies, and developing strong oversight mechanisms to ensure compliance with the New Consumer Duty.

4. Training and Cultural Transformation:

Our firm recognises the importance of embedding a customer-centric culture within your organization. We will provide tailored training programs for your staff, ensuring they understand the requirements of the New Consumer Duty and are equipped to deliver customer-focused outcomes. We will work with you to foster a culture that prioritises consumer interests and supports the necessary cultural transformation.

5. Ongoing Compliance Support:

Compliance is an ongoing process, and our firm will be there to support you beyond the initial authorisation stage. We will provide ongoing compliance monitoring, conduct regular reviews, and assist with any updates or changes required to ensure your firm continues to meet the obligations of the New Consumer Duty.

6. Complaint Handling and Dispute Resolution:

Effective complaint handling and dispute resolution processes are essential for meeting the New Consumer Duty. Our firm can assist you in developing robust procedures to address customer complaints promptly and fairly. We will help you establish mechanisms for resolving disputes in a transparent and customer-centric manner.

By engaging our firm's services, you can be confident that your application for FCA authorisation will be comprehensive, aligned with the New Consumer Duty, and supported by a strong compliance framework. We are committed to helping your firm navigate the regulatory landscape and demonstrate your dedication to consumer protection and fair treatment. Contact us today to discuss how we can assist you in obtaining FCA authorisation while incorporating the requirements of the New Consumer Duty into your application.