The video highlights the importance of re-thinking the design of products and services; providing fair value; the requirement to avoid causing foreseeable harm and support customers; and that communications must be clearly understood by customers with characteristics of vulnerability.
Engaging fully with the new consumer duty will be a significant task but, crucially, can improve the perception of our industry going forward and we hope that this initiative will contribute to achieving this.
To access these videos, simply go to the Pimfa website, click on Become a Member, then click on FAQ’s.
Liz Field is chief executive of Pimfa
To find out more about the upcoming Pimfa Compliance Conference, go to the Pimfa website, click on Events & Learning, then click on Pimfa Compliance Conference 2023.
