Consumer Duty eLearning
Overview
The Consumer Duty is a key part of the Financial Conduct Authority’s strategy. The FCA wants to see a higher level of consumer protection in retail financial markets, where firms compete vigorously in consumers’ interests. In essence, the Duty requires firms to understand their customers’ needs and to support them so that they get good outcomes.
The Consumer Duty is comprised of:
- A new Consumer Principle that provides an overarching standard of conduct
- A new Conduct Rule
- Other cross‑cutting rules and outcomes that support the Consumer Principle by setting clear expectations for firms’ cultures and behaviours.
Most firms were required to implement the Consumer Duty by 31 July 2023.
This interactive eLearning module explains the Consumer Duty in detail and highlights the outcomes expected. It enables learners to understand the behaviours required to comply with the Consumer Duty, and the anticipated outcomes for consumers.
For those who are familiar with the Duty, our Consumer Duty: The New Normal eLearning module is also available, and has been designed to support firms with their ongoing Consumer Duty training.
This module and the end assessment can be tailored to incorporate client-specific content.
Course Details
- The introduction of the Consumer Duty - background and context
- Understanding the Duty
- Consumers defined
- Firms impacted
- What it means for firms
- What it means for staff
- Putting the Consumer Duty into practice
- The four expected outcomes
- Case study over the product life cycle
- Link to vulnerable customers
- Implementation timetable
- Assessment
Who is this for?
Suitable for new entrants to the professional sector and staff who are beginning their career in financial services. The broad coverage makes the qualification suitable for all staff, not just those responsible for making investment decisions, including administration, finance and accounting, IT, customer services, sales and marketing and HR and training.
Course Details
Introduction
- The Financial Services Industry
Economic Environment
Equities/Stocks
Bonds
- Characteristics
- Government Bonds
- Corporate Bonds
Financial Assets and Markets
- Cash Deposits
- Money Market Instruments
- Property
- Foreign Exchange Market
Derivatives
- Derivatives Uses
- Futures
- Options
- Terminology
- Derivatives/Commodity Exchanges
- Swaps
Investment Funds
- Open-Ended/Mutual Funds
- Closed-Ended Investment Companies
- Real Estate Investment Trusts
- Exchange-Traded Funds
- Hedge Funds
- Private Equity
Financial Services Regulation
- Financial Crime
- Insider Trading and Market Abuse
Other Financial Products
- Retirement Planning
- Loans
- Mortgages
- Life Assurance
Financial Advice
- Areas of Financial Advice
- Financial Advice Process
- Legal Concepts
Workbook
CISI Exam Details
1 Hour multiple choice computer-based test (CBT)
Questions: 50
Pass Mark: 70%
CISI Workbook & Exam Fees
International
Exam & Workbook £241.00
+£40.00 CISI registration for new students
Recommended minimum study time: 80 hours
To order your workbook and book your exam, visit the CISI's online Booking Portal
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.