The FCA’s Consumer Duty contains new rules on firms’ treatment of vulnerable customers – enforceable rules. Firms will need to identify the characteristics and needs of vulnerable customers and then support good outcomes for them throughout a product’s lifecycle.
Samaritans have extensive experience supporting people who are struggling to cope. And their Samaritans Training and Engagement Programmes (STEP) supports organisations to train their people and teams to do the same (visit samaritans.org/step or email firstname.lastname@example.org for more information).
That’s why we’re delighted to have interviewed Jason Jaspal from Samaritans
for Samaritans’ insights on what firms can do in practice to support vulnerable customers particularly in the context of the Consumer Duty’s customer communication and support outcomes. Our conversation starts at the level of each individual customer interaction and we then move on to training, support for teams, culture and senior management tone-from-the-top.
You don’t want to miss this one. Listen to it here.
Want more? Visit Linklaters’ Consumer Duty webpage for all our insights. And remember: with time running short for implementation, we're here to help and support you to deliver this significant regulatory change programme. Get in touch with us any time to discuss.