The purpose of the consumer duty working group is to provide a forum for members to voice their specific issues and concerns relating to the implementation of the duty.
PIMFA’s Consumer Duty Working Group (CDWG) first met on 14 June to scope out member views, determine how best to support members and agree a plan going forward. Based on member priorities the CDWG work streams will focus on:
Four outcomes (products and services, price and value, consumer understanding, consumer support)
Reporting and management information
Outputs from each work stream will enable best practice guides to be developed for the membership (and shared via the website).