DEMSA update: Coronation / Consumer Duty / Fraud Strategy / Insolvency / Training / Events

Ofgem consultation

As a follow-up to last week’s bulletin and the speech by Jonathan Brearley at Ofgem, there is now a consultation on a framework for consumer standards and policy options to address priority customer service issues. Their stated priority as a regulator is to protect consumers, especially those who are vulnerable, by ensuring they are treated fairly. This feels like the lead up to Consumer Duty. They want to ensure that consumers in vulnerable situations have a dedicated method of contact that meets their needs and they are consulting on the introduction of a new rule to mandate this. As Vanessa reminded me on Friday at our regular catch-up, we need to be mindful of what registers like the Priority Services Register (PSR) were set-up for.  

With many consumers struggling with their bills, Ofgem has stated that it is more critical than ever that suppliers provide good service to their consumers. Building on the existing rules and the outcomes from their Mark...

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