We are delighted to invite you to the second in our series of training sessions focused on NEDs in financial services.
In the first session, we examined the argument that, in the absence of a dysfunctional market, the Financial Conduct Authority is not a price regulator and will not enquire into firms' prices and pricing strategy. We debated whether the FCA was becoming increasingly uncomfortable with that stance and the extent to which it was prepared to question discriminatory pricing strategies and firms' approaches to vulnerable customers. In doing so, we discussed some of the recent themes and industry work.
In this second event we will take this issue further and make use of scenario analysis, so that NEDs can test their risk appetite in some real scenarios, and assess how their views are benchmarked against their peers. We will do so against the backdrop of answers to the following questions:
- When will the FCA act in the absence of a rule breach?
- Does the requirement to Treat Customers Fairly present an independent basis for questioning a firm's pricing practices?
- What comfort can a firm take from being "in the pack"?
- What happens if the firm's core viability is based on aggressive pricing strategies?
We will reflect on the most recent developments in this fast moving area, including the impact of the Equality Act, insurance pricing, the "loyalty penalty", proposed new "vulnerability guidance" and the FCA's views on the Creditworthiness Assessment Bill. We also consider the merits of proposals to bring in a new duty of care on firms, which will place an even greater burden on them and their directors.
Please kindly RSVP by emailing Natalia.Hannan@addleshawgoddard.com
There are limited places available, so please sign up early to avoid disappointment.
07.45 am - 09.30 am
Addleshaw Goddard LLP, Milton Gate, 60 Chiswell St, London EC1Y 4AGView map
Early Warning - our next event will focus on:
Operational Resilience - How financial services firms should respond to threats to their viability and the continuity of their operations.