DEMSA update: Consumer Duty / Steve Coppard Blog / Chatbots / Financial Wellbeing / Events

In today’s bulletin

General updateSteve Coppard Blog on Consumer DutyHow can financial institutions support the financial wellbeing of their clients?ChatBot research – call for inputTrainingEvents

General update

I published a bulletin last Sunday on CP23/5 (Debt Packagers) and the SIP 3.1 changes that take effect in March 2023. I have had a number of calls and meetings around responses. This is particularly relevant to any firm that may be inadvertently caught in the FCA restrictions. This may be firms that have an Appointed Representative within a group under the same ownership. It can be debt advice providers that don’t operate debt packager models where there are no material conflicts of interest and there is evidence of high-quality debt advice through recognised QA checks. We are exploring whether a waiver option should exist where non-alignment with what conduct the FCA wish to stop can be evidenced. The issue appears to be that the FCA don’t really want to supervise sm...

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