Marshall E-Learning, part of the Ciphr Group, is launching 20 new employee training courses for FCA-regulated banks, insurers, and other financial services providers.

The first of Marshalls’ new FCA compliance training to debut this summer focuses on the new Consumer Duty rules, due to come into effect on 31 July. The course provides an introduction to the new duty, including how it applies and how it can be implemented so that different types of companies – and the staff working within them – meet their obligations to put consumers’ needs first and deliver fair value.

A critical part of being Consumer Duty ready is ensuring that all employees – especially those that are front-line and customer-facing – have been trained in the intricacies of the new Consumer Duty requirements. Senior managers may also need additional, specialised training, as they will now be subject to a new (sixth) individual conduct rule under the senior managers and certification regime.

David Marshall, MD of Marshall E-Learning at Ciphr, said: “The FCA’s new Consumer Duty has implications for financial services providers across many markets. The new regulations place an increased emphasis on transparency, accountability, and fair treatment of consumers, and financial services staff will need up-to-date, regular training as part of that to fully understand and implement all these changes effectively. Failure to meet these new obligations could result in big fines from the FCA, so there’s a big incentive for organisations to get this right.

“We’ve worked closely with many financial organisations over the years, such as the Bank of England, the FCA, Lloyd’s and Prudential, on their diversity and inclusion programmes. This new compliance training significantly broadens our content offering and enables us to support even more people working in this important sector with their essential training and development, and CPD requirements.”

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