Webinar: Vulnerable Customers: What you need to know

Date: 22 October 2024

Format: Recorded webinar

Webinar Overview

Date: 22nd October 2024

Time: 10:00 am - 11:00 am

Hosted by: Jennifer Cahill and Jaspreet Kaur

The treatment of vulnerable customers by regulated firms has been a longstanding area of focus for the FCA. Consumer Duty has further highlighted the importance of treating vulnerable customers fairly and appropriately, as this principle is woven throughout the Duty's framework. Currently, the FCA is conducting a review of how firms manage their vulnerable customers, with findings expected to be published later this year. This may include further guidance and targeted supervisory reviews concerning vulnerable customers.

In anticipation of the publication of the FCA’s findings, we thought it would be helpful for regulated firms to learn about what makes a vulnerable customer, and why the FCA is concerned about such customers. This webinar will also provide practical guidance firms can take on board on how to manage their regulatory expectations.

The webinar will conclude with a Q&A session, allowing attendees to submit questions for our speakers. If your question isn't addressed during the session, we’ll follow up with you directly.

Agenda

What is a vulnerable customer?
Why the FCA is concerned about vulnerable customers?
What might cause a customer to be vulnerable?
What do you need to do in terms of identifying and dealing with vulnerable customers?
How should you record vulnerable customer information while keeping in line with GDPR regulations?
Q&A

Speakers

Jennifer Cahill - Associate Director

Jennifer is an Associate Director at Cosegic. She has significant experience in advising clients and conducting assurance reviews on a variety of topics including governance frameworks, compliance effectiveness, conflicts of interest, systems and controls, and authorisation applications. She has also supported clients in implementing key regulatory changes, including SMCR and Consumer Duty.

Jaspreet Kaur - Senior Consultant

Jaspreet is a Senior Consultant within our Payment Services team. She provides ongoing technical regulatory compliance support to our payment services clients. Jaspreet focuses on supporting clients with project and authorisation applications and specialises in providing PSD2 audits and compliance advisory.