Consumer Duty's Consumer Understanding outcome isn't satisfied by readable documents and plain English. Under PRIN 2A.5, firms must test whether customers actually understand what they're being told, evidence the results, remediate where they don't, and embed continuous improvement into governance. The FCA has been explicit: it expects structured assessment, not good intentions. The FCA doesn't wait.
What's included:
Five-stage assessment methodology: communication analysis, test design, protocol implementation, results analysis, and remediation
Testing scenarios across six product categories: investments, insurance, savings, pensions, cross-product, and digital channels
Vulnerability-inclusive testing framework aligned to FG21/1: identification, inclusive methodologies, accessibility requirements, and ongoing monitoring
Documentation and evidence standards: testing records, digital communication testing, vulnerability-focused documentation, and retention requirements
Cross-outcome integration: products and services, price and value, and consumer support — with cross-outcome testing scenarios
Governance and accountability: SM&CR alignment, Board oversight, three-lines-of-defence, and management information framework
Ready-to-use appendices: Testing Request Form, Pre-Testing Worksheet, Protocol Checklist, Scoring Framework, and Testing Documentation Template + much more
Who is this for?
Compliance Officers, SMF holders, Customer Experience Directors, and Consumer Duty leads at FCA-regulated wealth management, investment, and retail financial services firms.
How it works
Step 1 — Read it. Every section exists for a reason, grounded in a specific regulatory obligation.
Step 2 — Understand it. Map the content against your current practices. Identify where you're strong and where gaps exist.
Step 3 — Make it yours. Tailor the language to reflect how your organisation actually operates. A policy that sounds like your firm is a policy your people will follow.
Step 4 — Take ownership. Assign clear accountability — Board approval, named SMF holder, designated policy owner. A policy without an owner is a liability, not an asset.
Step 5 — Operationalise it. Embed the policy into your governance calendar, training programme, and annual review cycle. This is where compliance becomes culture.
Or, get this free with RegTechPRO
Access this alongside the full compliance policy library — SM&CR, COBS, AML, Consumer Duty, GDPR, and more — for a fraction of the cost of consultancy.
View RegTechPRO pricing and packages →
Consumer Duty's Consumer Understanding outcome isn't satisfied by readable documents and plain English. Under PRIN 2A.5, firms must test whether customers actually understand what they're being told, evidence the results, remediate where they don't, and embed continuous improvement into governance. The FCA has been explicit: it expects structured assessment, not good intentions. The FCA doesn't wait.
What's included:
Five-stage assessment methodology: communication analysis, test design, protocol implementation, results analysis, and remediation
Testing scenarios across six product categories: investments, insurance, savings, pensions, cross-product, and digital channels
Vulnerability-inclusive testing framework aligned to FG21/1: identification, inclusive methodologies, accessibility requirements, and ongoing monitoring
Documentation and evidence standards: testing records, digital communication testing, vulnerability-focused documentation, and retention requirements
Cross-outcome integration: products and services, price and value, and consumer support — with cross-outcome testing scenarios
Governance and accountability: SM&CR alignment, Board oversight, three-lines-of-defence, and management information framework
Ready-to-use appendices: Testing Request Form, Pre-Testing Worksheet, Protocol Checklist, Scoring Framework, and Testing Documentation Template + much more
Who is this for?
Compliance Officers, SMF holders, Customer Experience Directors, and Consumer Duty leads at FCA-regulated wealth management, investment, and retail financial services firms.
How it works
Step 1 — Read it. Every section exists for a reason, grounded in a specific regulatory obligation.
Step 2 — Understand it. Map the content against your current practices. Identify where you're strong and where gaps exist.
Step 3 — Make it yours. Tailor the language to reflect how your organisation actually operates. A policy that sounds like your firm is a policy your people will follow.
Step 4 — Take ownership. Assign clear accountability — Board approval, named SMF holder, designated policy owner. A policy without an owner is a liability, not an asset.
Step 5 — Operationalise it. Embed the policy into your governance calendar, training programme, and annual review cycle. This is where compliance becomes culture.
Or, get this free with RegTechPRO
Access this alongside the full compliance policy library — SM&CR, COBS, AML, Consumer Duty, GDPR, and more — for a fraction of the cost of consultancy.
View RegTechPRO pricing and packages →
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