Name: Consumer Duty Policy Template
SKU: POL068
Price: 20.00 GBP
Availability: InStock

Our Consumer Duty Policy Template sets out policy objectives and controls for complying with Principle 12 and the PRIN 2A requirements set out in the FCA Handbook. This is a policy template and not a procedure document, so the content provides a firms’ intent and aims and summarises the measures used to comply with The Consumer Duty. Applicable to all retail products and services, The Consumer Duty was enforced from the 31st July 2023 and also encompasses policy areas such as vulnerable customers, SMCR and financial promotions and communications. Mandatory for those with retail customers, the template defines how you carry out product governance, fair price and value assessments and achieve good customer outcomes. View our other policy templates that related to The Consumer Duty.

Benefit from simple document integration with our easy to use, customisable policy template. Build a compliant foundation for your Consumer Duty program without starting from scratch.

WHAT’S INCLUDED

Template Customisation Guidance
15-page Consumer Duty Policy Template

TEMPLATE CONTENTS

Policy Statement
Purpose and Scope
The Consumer Duty
Vulnerable Customer Requirements
The Cross-Cutting Obligations
The Four Outcomes
Interactions Between Principle 12, Outcomes and Rules
Conduct Rules
Deliver Good Outcomes for Retail Customers
Objectives
Outcome Controls and Processes
Product Governance and Approval Process
Price and Value Assessment
Consumer Understanding & Communication
Consumer Support Measures
Culture
Vulnerable Customers
Training
Monitoring
Responsibilities

Key Details

Compliant with The Consumer Duty rules under PRIN 2A
Meet your responsibilties to retail customers
Fully customisable & easy to use
Instant download after payment
Developed by FCA experts
Market leading business documents
Affordable templates & toolkits
Used by over 8,000 organisations
Developed by experts with 20+ years experience

Consumer Duty Policy Template Overview

The Consumer Duty (The Duty) aims to deliver a higher level of protection and security alongside clearer standards for retail customers. The Duty provides new rules and guidance on the fair treatment of retail customers as well as focusing on product governance and fair value assessments. A new Principle for Business and Conduct Rule have been added to the FCA Handbook to provide the overarching ethos of the Duty and the standard of behaviour expected of firms. The Duty also comprises cross-cutting obligations, four outcomes and guidance for firms when it comes to their retail market business and retail customers.

As The Consumer Duty requirements cover many areas of a firms’ compliance program, this policy helps to bring together the main obligations and objectives into one, easy to use template. The policy allows you to reference your own product governance and value assessment process, whilst saving you time and money with a ready-to-use policy. Our Consumer Duty Policy template: –

Provides ready-to-use, customisable content which sets out your objectives and obligations for PRIN 2A compliance
Includes comprehensive guidance on what The Consumer Duty is and how to embed it into your organisation
Documents your intent and aims for complying with the cross-cutting obligations and four consumer outcomes
Has been developed by a company who have been providing FCA compliant policies and procedures for over 10 years
Saves you time and money by providing a professional, compliant policy that you can integrate into your existing compliance program.

A Name You Can Trust

Market Leading Compliance The team at Know Your Compliance Limited have been developing regulatory policies and documents for nearly 20 years. With over 8000 organisations using our documents, we are market leaders when it comes to compliance templates.

Support and Guidance

Staff Support All templates come with guidance for using and customising the content. We know purchasing templates online can be daunting, which is why we are here to help whenever you need us.

Cost Effective Compliance

Cost Effective Compliance Our customers range from multi-national organisations and public bodies, through to sole traders. We keep our prices low so that our products are affordable for everyone. Quality you can trust at prices you can afford!

Why Choose Us?

Market leading business documents
Affordable templates & toolkits
Used by over 8,000 organisations
Developed by experts
20+ years experience & knowledge
Compliant, professional templates
Save time and money
Suitable for all business types

This customisable document is available for instant download after payment and includes:

Template Customisation Guidance
15-page Consumer Duty Policy Template

TEMPLATE Contents

Policy Statement
Purpose and Scope
The Consumer Duty
Vulnerable Customer Requirements
The Cross-Cutting Obligations
The Four Outcomes
Interactions Between Principle 12, Outcomes and Rules
Conduct Rules
Deliver Good Outcomes for Retail Customers

Objectives
Outcome Controls and Processes
Product Governance and Approval Process
Price and Value Assessment
Consumer Understanding & Communication
Consumer Support Measures
Culture
Vulnerable Customers
Training & Monitoring
Responsibilities

FCA Compliant templates

We have updated several of our existing templates to comply with The Consumer Duty rules and obligations.

From SMCR and financial promotions, through to vulnerable customer awareness

View related Consumer Duty products

Frequently Asked Questions

Can The Documents be Customised?

All our templates and policies are fully customisable and we encourage you to edit the content to suit your industry and business type. Much of the content is ready to use, but an effective policy should accurately reflect what your business does. Therefore, you should customise the content to mirror your business processes and obligations.

What Format are the Documents in?

The templates are developed in Microsoft Office Word and are fully customisable and ready for corporate branding. They are compatible with most text editing software. Checklists and assessment templates are provided in an Excel format.

Are the Documents Suitable for my Business?

The content has been developed using the relevant standards, regulations and legislation. Therefore, our templates, manuals and toolkits are suitable for any industry and business type. We encourage you to customise the content to suit your sector and obligations and provide guidance where you are required to add your own content.

Are the Templates an 'Off the Shelf' Solution?

Every business is different and compliance documents need to reflect that. Whilst our templates and toolkits go a long way toward making you compliant, many of our documents do require some customisation to ensure that they are relevant and compliant. It is important that each document accurately demonstrates what your business does and how it does it.

The level of customisation required for each document will depend upon factors such as your size, scope and current compliance program. However, we are always on hand to answer any questions you may have and provide unlimited email support.

How Can I Access My Order?

All materials and templates are available to download immediately after purchase via the website. Once you have completed your payment online, you will be redirected to our order page where you can download your ordered document(s). We also send you an automated confirmation email which contains a copy of your download link. BACS orders are processed within 24hrs of payment being received.

Why Should I Buy From Know Your Compliance Limited

At Know Your Compliance Limited we are passionate about regulatory compliance! Our team has over 20 years experience and expertise in regulatory compliance and policy development. Serving a wide range of industries and business types, over 8000 organisations already use our templates and toolkits. We have delivered professional, compliant templates to hundreds of industries; including accountants, tax advisors, education and healthcare sectors, the NHS, Government departments, finance and credit, recruitment, charities, banks, estate agents and thousands of SME’s and sole traders.many more.

We offer a large library of templates for regulatory policies, procedures, checklists, toolkits, manuals and training packages. Utilising Microsoft Office for compatibility and easy customisation, we provide editing and usage guidance with all templates. When paying by credit/debit card, all documents are available to download instantly and come with the first annual update included in the price.

Do You Offer Refunds?

As our materials, packages and templates are downloaded digitally, they cannot be physically returned once purchased. For this reason we do not offer any refunds, however we do provide extensive information about each product on the relevant product page so that you know what you are getting before you buy. Please refer to our Terms and Conditions for further information.

If you have any questions about our templates, toolkits or training materials before or after purchase, please contact us at info@knowyourcompliance.com and we will be only too happy to assist you.

Can I Use the Templates With My Clients?

Documents are for use within the purchasing company only. However, we offer our Consultant Licence Scheme which enables individuals and businesses to utilise our policies and toolkits as part of their own service provision. More importantly, it means consultants, training providers and specialists don’t need to spent their time writing policy templates and reinventing the wheel!

If you are interested in using our templates as part of your service provision, please contact us at info@knowyourcompliance.com and we will be happy to assist you.