Consumer Duty Bulletin Part Four: Price and Value

In this Consumer Duty Bulletin we focus specifically once more on the critical policies, procedures and processes that manufacturers need to develop under the Duty.  This time we consider the Price and Value outcome and specifically focus on the requirement to undertake a fair value assessment. 

This bulletin provides an overview of the Price and Value requirements under PRIN 2A.4 and discusses some common challenges for consumer credit firms.

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Auxillias Consumer Duty Toolkit

We have developed a toolkit to help clients to prepare for Consumer Duty and hit the key milestones of 30 April 2023 and 31 July 2023.  It currently includes:

1. A number of high-level templates, example of processes and documentation to help firms define their own key processes under Consumer Duty. 

2. Post-implementation assurance reviews immediately following the key implementation deadlines in April and July. 

3. Advice on identifying manufacturers, distributors, co-manufacturing relationships. 

4. A series of training packages on Consumer Duty for lenders and brokers/retail dealers.

5. Support and guidance on the governance aspects of the consumer duty - including drafting new policies and procedures, reviewing governance and reporting arrangements and senior management oversight and assisting you with the required changes to your Senior Management and Certification Regime arrangements.

If you are interested in finding out more, about our Toolkit please register your interest via this link and we will be in touch.