In the latest BVRLA blog, marking the first full year of the Financial Conduct Authority (FCA)’s Consumer Duty being in place, the association’s Director of Legal and Membership, Shashi Maharaj, shares key themes and observations that BVRLA members need to be aware of.
In his blog, Shashi observes; “It’s clear through our own work on the Consumer Duty (Duty) at the BVRLA, including the inclusion of the Duty into our Leasing Broker Inspection Programme, that our members have been keen to take on the challenge of delivering better customer outcomes. This is echoed in the speech delivered by Sheldon Mills “Back to the Lily pond,” who recognised that many solo-regulated firms have ‘embraced the Duty’ and ‘used it as a driver to shift [their] culture.’
“The Duty was always designed to be so much more than a simple tick-box exercise. It is encouraging to see so many taking the Duty in the right spirit by making positive changes.”
Read the blog in full: Consumer Duty is One. Are you walking the walk?
See the BVRLA’s Consumer Duty guidance page and training programme Consumer Duty Training Programme.
Contact the Compliance Team at [email protected] for any further support or questions.
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