The FCA’s Consumer Duty has now come into force, and the regulator is already taking action under the new law – particularly in relation to ‘fair value assessments’.

This interactive workshop will focus on how to further embed  the Consumer Duty in your organisation, with a spotlight on two key areas of FCA attention – assessing fair value, and customers communications.

What is fair value? We will take you through practical concepts and tools to assess fairness of pricing and customer outcomes, and explain how to evidence this using behavioural economics, data analytics and business model analysis.

How to design effective customer communications? We will take you through the do’s and don’ts, and when and how to test and optimise customer communication, using the latest insights from behavioural economics.

Key takeaways:

  • To be informed and knowledgeable about how to embed the Consumer Duty in your organisation
  • To understand the practical implications of the Consumer Duty for your organisation.
  • To be able to identify what evidence is required which tools are required to assess ‘fair value’.
  • To be confident to use the tools of behavioural economics and business model analysis in your organisations.
  • To be able to identify the right practical actions required in order to meet the FCA’s expectations in relation to customer communications.

 

Take this training in-house:

This training is also available as an in-house programme, which means you can tailor it to exactly what you and your colleagues require. Pricing for in-house will depend on what is required. Enquire about this option by contacting our training team.

Reinder Van Dijk

Reinder Van Dijk

Partner and Head of Financial Services, Oxera

Reinder has more than 20 years of professional experience in applying economics in the context of regulatory and supervisory investigations, competiti...

Reinder has more than 20 years of professional experience in applying economics in the context of regulatory and supervisory investigations, competition and market investigations, mergers and acquisitions, and litigation cases.

He leads Oxera’s work in financial services and has advised major retail and investment banks, lenders, insurers and re-insurers, securities exchanges and other FMIs, payment system companies, fund managers, and distributors.

Reinder has been involved in competition, regulatory, supervisory and market investigations, and has provided written and oral evidence. He is listed in The International Who’s Who of Competition Lawyers & Economists and has delivered training courses to the various regulatory authorities, including the FCA, government departments, financial services companies and law firms.

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Peter Andrews

Peter Andrews

Senior Advisor, Oxera

Peter was the Chief Economist of the FCA until early 2017, leading a substantial economics practice at the regulator for over twenty years. Peter led...

Peter was the Chief Economist of the FCA until early 2017, leading a substantial economics practice at the regulator for over twenty years.

Peter led many original research projects in such as competition, capital, wholesale risk issues (e.g. shadow banking) and retail conduct, including behavioural economics. Many of the projects were important contributions to the FCA's programme of Competition Market Studies and to the wider debate on financial services, both in the UK and around the world.

Peter is the author of books, chapters and papers on regulation, economics and banking. He is Member of Institute of Chartered Accountants in England and Wales, and the Chartered Institute of Securities and Investment.

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Dr Minyoung Rho

Dr Minyoung Rho

Consultant, Oxera

Minyoung is a data scientist, specialising in using advanced data analytics to unlock new insights into customer outcomes and behaviour. Her work in t...

Minyoung is a data scientist, specialising in using advanced data analytics to unlock new insights into customer outcomes and behaviour. Her work in the financial services sector centres on quantifying the consumer impact of changes in distribution channels, product design, regulation, and competitive conditions.

Prior to joining Oxera from academia, she was a research fellow and lectured at Barcelona School of Economics, where she received grants on her research projects estimating impact of financial policy in Spanish housing market during the Global Financial Crisis of 2008.

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Tom Davies

Tom Davies

Consultant, Oxera

Tom is part of Oxera’s Regulation and Market Design team, with a particular focus on the economics of the financial services sector. He specialis...

Tom is part of Oxera’s Regulation and Market Design team, with a particular focus on the economics of the financial services sector. He specialises in applying behavioural economics to regulation and conduct risk in financial services and has advised payments services companies, banks, building societies, brokers and insurance companies across a range of issues.

Tom has delivered training to multiple firms on behavioural economics, value for money assessments and on implementing the FCA’s new Consumer Duty. He has advised financial services firms on questions of market design, and assessing fair value of products and services.

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