The Consumer Duty & The Requirements for Firms

Master the FCA requirements and effective practice considerations. Discover if it's more than just Treating Customers Fairly.

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A half-day FCA Consumer Duty Course

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Download: Course Outline

Session 1: Where We Were – Where We Are

Current timescales and expectations: the road to both deadlines begins this new consumer duty training
Treating Customers Fairly (TCF) and Conduct Risk
Alignment with SMCR
Change to the Conduct Rules and COCON
Current regulatory commentary on implementation quality

Session 2: The Consumer Principle / Principles 6 & 7

Principle 12 – The Consumer Principle
Mindset, culture and data in place to deliver the aims of the new Principle 12
Measurement, Management and Gap Identification
Gap filling; working towards a set goal

Session 3: Consumer Duty Cross-Cutting Rules

Amplifying the Consumer Principle
Three rules:
- Firms must act in good faith towards retail customers
- Firms must avoid foreseeable harm to retail customers
- Firms must enable and support retail customers to pursue their financial objectives
Defining and understanding regulatory expectations concludes session 2 of consumer duty training

Discussion & Exercise – Areas of our business impacted/prioritised

Session 4: The Four Outcomes

Focusing on retail customers
Consumer Responsibility
Product oversight and governance – back to the drawing board
Pricing and accountability
Communications: clear, fair and not misleading but supercharged
Transforming 'customer service' to 'customer support' and the client lifecycle

Session 5: Other Important Elements

Outsourcing the Consumer Duty – in short, not an option
Vulnerable Customers
No private right of action
Impacts on T&C; Financial Promotions, Compliance Monitoring; Audit activity; Induction programmes; Employee handbooks or Codes of Conduct; and Breach Management
IT Programme management – enhanced MI and reporting
Evolution or revolution?
Non-handbook guidance concludes section 5 of FCA consumer duty training

Case Studies: TBC as industry commentary develops

Wrap-Up

Summary
Questions
Open forum

Please note that course content is subject to last-minute changes based on the finalisation of the FCA’s new rules.

At Redcliffe Training, our consumer duty course is delivered by a highly experienced specialist with over 20 years of expertise in compliance, regulatory oversight, and risk management across the financial services sector.

Throughout his career, this expert has led both European and global functions in Wealth Management divisions, as well as across custodians and global banks. As an ex-regulator, he brings a deep, practical understanding of how supervisory bodies operate and what they expect from firms in practice—not just in theory.

Our consumer duty training leader specialises in regulatory compliance and financial crime, with a strong focus on translating regulatory requirements into workable, real-world processes that stand up to scrutiny.

Redcliffe Training’s consumer duty course sets out the key regulatory developments, expectations, and practical considerations required to align your organisation with the FCA’s Consumer Duty framework. Sessions focus on real-world application and accountability:

The FCA’s new rules and requirements, and how we got here.
The application of the new Principle and Conduct Rule, and where current arrangements continue.
How to apply good practices and avoid poor practices.
The new rule requirements through each stage of the product life-cycle and the client lifecycle.
The three cross-cutting rules and the four consumer outcomes, and how they link to the six treating customers fairly outcomes (TCF).
To link change to senior manager accountability under SMCR.
Bringing these elements together, consumer duty training at Redcliffe equips participants with a clear, structured framework to identify gaps, prioritise risks, and develop a practical action plan aligned with FCA expectations.

FCA consumer duty training at Redcliffe is designed for professionals working within UK-regulated firms subject to the FCA’s Consumer Duty requirements.
Ideal for individuals responsible for ensuring compliance, interpreting regulatory expectations, and embedding Consumer Duty within their organisation.
Sessions are particularly relevant to those operating across the three lines of defence.
Suitable for anyone involved in designing, implementing, advising on, monitoring, or testing the key elements of a retail business.
New consumer duty training is valuable for professionals looking to strengthen their practical understanding of Consumer Duty and apply it effectively in day-to-day roles.

At Redcliffe Training, our consumer duty course provides an analysis of the new rules and their impact. We look at the key requirements and changes, but in the context of how we got here, what they built on, what the gaps were and why they needed to be addressed.

Sessions then focus on the rules and their practical implications and application:

What do we need to do?
What needs to change?
What are the pitfalls, and what are our options?

The urgency to comprehend and navigate these regulatory changes is underscored, emphasising the necessity of aligning with stipulated deadlines. Training not only serves as a knowledge repository, but it also emerges as an indispensable tool for proactively meeting implementation deadlines. This FCA consumer duty course furnishes you with the requisite support to navigate the intricacies of implementation activity and exercise effective oversight of control frameworks.

By enrolling in this program, you will equip yourself with a strategic advantage in adapting to the evolving regulatory landscape. Sessions are designed to empower all levels within an organisation, ensuring a comprehensive understanding of the nuances of the new consumer duty regulations. For organisations keen on fortifying their compliance mechanisms, this training offers a pivotal resource.

The rules impact a huge amount of what we do, from the senior leadership teams to the shop floor and to be ready to meet both deadlines, we should understand and map the challenges as soon as we are able. Consumer duty training provides essential support to your implementation activity and control framework oversight.