When | 05 November 2024
Where | Live Online via Zoom
Since the introduction of the Consumer Duty regulations, businesses across financial services have had to reassess their practices to ensure they meet higher standards of customer protection and transparency. The new framework focuses on delivering fair value, supporting informed decision-making and improving outcomes for consumers. Organisations now face heightened scrutiny to ensure they are prioritising the needs of their clients, from product development to post-sale interactions. In the aftermath of these changes, firms have been adapting to not only meet the legal requirements but also to cultivate stronger relationships with consumers based on trust, fairness, and accountability. Now that the Consumer Duty regulations are in effect, it’s important to explore the practical impact on businesses, consumers and the wider industry.
In this session we will dive into the topic by:
- Exploring Early Compliance Results and Industry Trends – How well have businesses adapted to the new requirements and what challenges are they facing?
- Consumer Outcomes and Experience – What ongoing issues are firms encountering when delivering improved transparency and fit-for-purpose products?
- Regulatory Feedback – What feedback have regulators provided so far and which areas still require significant improvement?
- Future Regulatory Expectations – What will regulators focus on in the months and years ahead and how should businesses prepare?
Speakers
Kyriakos Christofides | Associate Director | Complyport
Kyriakos Christofidis joined Complyport in 2021 and is an Associate Director at Complyport’s Authorisations, Governance, and Conduct Division. He obtained a B.A. in Business and Finance from the University of Derby (UK) and an LL.B. from the Open University (UK). He also holds a number of certifications from reputable training bodies and is approved under the FCA’s SM&CR regime to provide compliance oversight duties.
Having worked in a variety of senior management roles in compliance and strategy over the last 12 years, Kyriakos’ experience covers UK-regulated firms, multinational law firms, Regtech and Fintech, alternative investment funds (AIFs), MiFID firms, and other EU-regulated entities.
His involvement in the provision of professional financial services in different jurisdictions has helped him develop an inquisitive and proactive approach to regulatory matters, readily providing his clients with solution-oriented professional advice for a wide array of complex regulatory matters.
Kumar Ved | Managing Director | Complyport
Kumar Ved, Managing Director, is an internationally experienced leader in the financial services sector with over 25 years of expertise spanning risk management, governance, compliance and systems implementation.
As an expert leader in regulatory policy experience, Kumar has facilitated sustainable and profitable growth for global banks like Goldman Sachs, ING, and Citibank as well as leading management consultancies such as Accenture and Grant Thornton.
Kumar has experience leading complex firm-wide change programs across business lines, jurisdictions, and international borders, leveraging his strengths in risk management, stakeholder engagement, cost reduction, and team leadership to drive organisational transformation and deliver strategic outcomes for financial institutions.
Throughout his accomplished career, Kumar has held critical roles in investment banking, management consulting, and regulatory bodies. He served as Head of Risk Management for ING Group Treasury, pioneered a new Risk Management Advisory practice at Grant Thornton, and contributed as an expert advisor to the UK’s Financial Conduct Authority.
Kurmar holds a BSc in Actuarial Science from City University London and is a qualified Member of the Institute & Faculty of Actuaries.
