Product Partnerships

Outsourced compliance services to retail clients selling through B2C channels using consumer credit products to sell their goods and services. Get in touch!

[The BVRLA @bvrla]

Our #ConsumerDuty #webinar next week (Wed 7) will assist members with implementing effective plans

'Get ready for Consumer Duty' will include a session with BVRLA auditor @PPL_Compliance, who look at Consumer Duty as part of the audit, providing tips

https://t.co/mBIZU7VtxK

[Product Partnerships @PPL_Compliance]

Will you take the test? https://t.co/EGdJUkBHKV

Want to know more about what's required of a regulated firm offering consumer credit? Concerned you may not be meeting the criteria?

Use our free insight tool and put your business to the test.

[Product Partnerships @PPL_Compliance]

We have created an implementation plan template, along with a suite of resources to help firms with their implementation of the new Duty. If you would like to discuss how we can work with you to ensure you are fully compliant by 31st July, then please get in touch.

[Product Partnerships @PPL_Compliance]

What are the Next Steps when it comes to Consumer Duty?

The FCA have released five key milestones for firms to prepare for.

27th July 2022 – Finals rules and guidance published

21st October 2022 – Firms to agree implementation plans

[Product Partnerships @PPL_Compliance]

30th April 2023 – Manufacturers to complete reviews to meet the outcome rules

31st July 2023 – Rules start for open products/services

31st July 2024 – Rules start for closed products/services

[Product Partnerships @PPL_Compliance]

The FCA has found that for some firms, they need to accelerate the work on Consumer Duty to ensure it can be implemented on time.

If you need support and advice on your implementation, then please get in touch.

[Product Partnerships @PPL_Compliance]

FCA highlights areas of focus for firms implementing Consumer Duty

The FCA have laid out some areas of priority for firms over the remaining period of implementation, and have asked firms to focus on:

[Product Partnerships @PPL_Compliance]

3. Working with other firms: Firms need to share information and work closely with their commercial partners to make sure they are delivering good outcomes.

[Product Partnerships @PPL_Compliance]

The FCA has found that for some firms, they need to accelerate the work on Consumer Duty to ensure it can be implemented on time.

If you need support and advice on your implementation, then please get in touch.

[Product Partnerships @PPL_Compliance]

The FCA have laid out some areas of priority for firms over the remaining period of implementation, and have asked firms to focus on:

[Product Partnerships @PPL_Compliance]

Working with other firms: Firms need to share information and work closely with their commercial partners to make sure they are delivering good outcomes.

[Product Partnerships @PPL_Compliance]

Businesses offering BNPL products should consider the legal, regulatory and commercial impact arising from these proposed changes.

Get in touch with our team of experts today to find out how your business can be prepared ahead of time.

[Product Partnerships @PPL_Compliance]

The government has published draft legislation which would bring the ‘buy now pay later’ (BNPL) industry within FCA regulation.

Under the proposed regulations, lenders offering BNPL products would need to:

[Product Partnerships @PPL_Compliance]

1. Be authorised by the financial regulator

2. Comply with various regulatory requirements

3. Abide by consumer credit rules, including the upcoming Consumer Duty and financial promotions regime.

[Product Partnerships @PPL_Compliance]

https://t.co/91QPmdej1K

[Product Partnerships @PPL_Compliance]

In the fourth episode of their dedicated series on the Consumer Duty, FCA policy experts explain the principles behind the consumer support outcome, its impact on the channels of support firms should offer and how firms should review their customer journeys.

Listen below