Meeting the Regulators’ Expectations in Treating Customers Fairly During the Coronavirus Crisis
Unprecedented is an over-used word in the current environment, but never before have so many consumers and small business been exposed to extreme financial hardship as a result of the coronavirus crisis.
Even previously financial robust customers have become financially vulnerable. Banks have been subject to damning criticism for their failure to pay it forward: having been the beneficiary of support during the financial crisis, the Financial Conduct Authority (“FCA”) has made it crystal clear that it expects lenders to adopt a flexible, sympathetic response to ensure fair treatment of all customers.
In its 2020/2021 Business Plan, the FCA set out its priorities for the future which put consumer protection at the heart of its strategy. This accords closely with the relief measures which have been announced to date and with the Guidance due to published later this year on fair treatment of vulnerable customers.
The City & Financial Global virtual roundtable series covers the key issues lenders and other regulated firms need to be aware of to ensure they are meeting regulatory expectations to treat customers fairly. Given the urgency of the situation, much of the guidance has been rushed through, so it is more important than ever that you equip yourself with the facts to make the right decisions for your organisation.
The roundtables will cover the following:
- Roundtable One: FCA Guidance on steps regulated firms should be taking to protect and support customers facing financial difficulty
- Roundtable Two: Pay it forward: practical steps lenders can take to mitigate the impact of coronavirus on customers
- Roundtable Three: The relationship between financial and mental health: fair treatment of those suffering mental health issues as a result of coronavirus
- Roundtable Four: Dealing with the legacy of temporary financial relief: steps firms can take to protect both customers and themselves
Nisha Arora, Director of Consumer & Retail Policy, FCA
Jonathan Chertkow, Partner, Hogan Lovells
Caroline Wayman, Chief Ombudsman and Chief Executive, Financial Ombudsman Service
Conor D’Arcy, Head of Research and Policy, Money and Mental Health Policy Institute
Chris Fitch, Vulnerability Lead Consultant, Money Advice Trust
Stephen Haddrill, Director General, Finance and Leasing Association
Amanda Hulme, Partner, Addleshaw Goddard
Joe Lane, Principal Policy Manager, Citizens Advice
Ian Wilson, Acting Head of Department, Financial Conduct Authority
16th of June -25th
Register to find out timings