Deloitte along with Kershia Singh: Head of Department| Market, Customer & Inclusion Research (FSCA) and Nicola Vincent: Deloitte UK Director| formerly of the UK Financial Service Authority shared insights on the expectations and experience of market conduct, measurement, monitoring, testing and oversight with specific focus on fair customer outcomes.
Most organisations have implemented the foundational elements for their market conduct programme. The focus, however, has now shifted to measuring and monitoring the conduct compliance and the ability to demonstrate fair customer outcomes.
This is a central tenant of the market conduct regulation, but presents challenges when implementing these programmes– what to measure, what to monitor, what data to use, what is a fair outcome, what to do with the findings, and what will the FSCA expect?
Some of the key insights that where discussed include:
- The approach to conduct monitoring and outcomes testing
- The research undertaken by the FSCA to inform their approach to a framework informing the measurement of customer outcomes
- The latest on the Omni-CBR, taking into account the current insurance focused CBR
- The UK FCA expectations on conduct monitoring and outcomes testing lessons as well learned from the UK experience
To learn more about how to build a robust market conduct programme, download our post webinar insights summary here.
We hope you find the information valuable and do not hesitate to get in touch regarding shaping the next steps in your market conduct journey.