Insights
Worksmart Articles
Living With The New Consumer Duty An Employee Perspective
With the deadline for implementing the new Consumer Duty requirements only a matter of months away and with implementation plans already submitted and signed off by boards, firms’ preparations for CD should be well under way. We are so excited to have a guest article written by Director of Regulation Julie Pardy, featured in PIMFA’s 2023 Winter Journal…….
Note – this article was published in PIMFA Winter Journal 2023.
March 2023.
March 22nd, 2023
Julie Pardy
The Case for Becoming Truly Customer Focussed
The Collaboration Network is just one of the many organisations we are grateful to work with and we are so excited to have a guest column written by Director of Regulation Julie Pardy, featured in February’s issue of their Collaboration Journal (page 9)………
Note – this article was published in Collaboration Journal February 2023.
February 2023.
March 6th, 2023
Julie Pardy
Adventure Beckons! Worksmart team to embark on epic climb of Mount Kilimanjaro
Don’t miss a chance to read the latest edition of the FLA’s magazine, Agenda. Hear what adventures members embarked on in 2022 – including climbing three mountains in 24 hours, running an ultra-marathon through the Sahara Desert and Julie Pardy Worksmart’s Director of Regulation discusses the upcoming challenge to climb Mount Kilimajaro……..
Note – this article was published in FLA Agenda Magazine January 2023.
January 13th 2023.
January 13, 2023
Julie Pardy
Consumer Duty – the buck stops with you not just your processes
In my last article (October’s edition), I talked about the value of firms revisiting and updating their existing people related regulatory processes, e.g. SM&CR and Training & Competence, to enable them to evidence that they are complying with Consumer Duty (CD). In my view it still makes sense that firms focus on these things. However, in this article I want to look at CD from another perspective, namely that of the individual………
Note – this article was published in T-CNews January 2023.
January 2nd, 2023.
January 2, 2023
Julie Pardy
Consumer Duty: What lies ahead for firms?
The incoming Consumer Duty (CD) regulation promises to be a key moment, some commentators are saying ‘pivotal moment’, in the history of regulation in financial services. I accept some of you think that I’m overstating things, however, let me explain why I think CD will represent a seed change for firms and their response to regulation……..
Note – this article was published in Agenda – FLA Magazine
October 12th, 2022.
October 12, 2022
Julie Pardy
Upscaling your people processes to meet the demands of Consumer Duty
I’m not sure about you, but pretty much all the commentary I read on the incoming Consumer Duty (CD), is quite daunting. The root of this is several things; firstly, the sheer breadth of CD means it ‘touches’ every part of a firm, not just customer facing parts at the point of sale. Secondly, the focus on outcomes requires……..
Note – this article was published in T-CNews October 1st 2022.
October 6, 2022
Julie Pardy
Consumer duty ‘an extra mile’ on treating customers fairly
Following on from a hugely successful session at this year’s PIMFA Compliance Conference, Sonia Rach from FT Advisor publication responded by writing the following article – The regulator’s new consumer duty is not the same as its previously introduced treating customers fairly publication, according to complaint management software company Worksmart……..
Note – this article was published in FT advisor September 28th 2022.
September 29, 2022
Julie Pardy
An outcomes based future - Are you on the Journey?
The FCA’s publishing of their Strategy is important for a number of reasons. Firstly, it provides a three‐year view of their intentions. Secondly,
it provides the context into which the annual Business Plans, with their more granular focus, can slot into. Thirdly,…..
Note – this article was published in the July ’22 digital edition of T&C News
July 1, 2022
Julie Pardy
The new Consumer Duty of Care ‐ The FCA are serious, are firms?
Last December the FCA issued a second Consultaon Paper (CP) on the Consumer Duty of Care (CDOC) – CP21/36. This CP provided feedback from the earlier consultaon on the same subject (CP21/13), together with further views on what the regulator is concerned about and what they are seeking to change…..
Note – this article was first published in the April ’22 digital edition of T&C News
April 6, 2022
Julie Pardy
The Appointed Representatives Regime – Change is coming
In December the FCA published a Consultation Paper 1 about improving the Appointed Representatives Regime (AR). In a coordinated move, HM Treasury also published a ‘Call for Evidence’ 2 on the same subject which will have given interested observers a clue to the level of concern about the effectiveness of the Appointed Representatives Regime….
Note – this article was first published in PIMFA’s March ’22 digital Winter Journal
March 29, 2022
Julie Pardy
The Appointed Representatives Regime – Time for an overhaul!
The Appointed Representatives Regime (AR) has been a big part of the retail financial services landscape for over a generation, Its’ scope was broadened in the Financial Services and Markets Act (2000) Read Julie’s article which examines why since then it has remained untouched….
Note – this article was first published in the January ’22 digital edition of T&C News
January 5, 2022
Julie Pardy
FCA Business plan 2021-22: A new era for regulation
The 2021-22 Business Plan heralds a new era for regulation in UK financial services. Gone is the ‘light touch’, reactive and, arguably, slow pace of previous regimes. Read Julie’s article which examines the key points of the plan….
Note – this article was first published in the October ’21 digital edition of T&C News
October 5, 2021
Julie Pardy
Is the FCA developing teeth and beginning to become an enforcer after all?
There are some counter indicators that point out that the FCA is moving forwards towards better control of the industry. Read Julie’s article which indicates what the FCA is now focusing on….
Note – this article was first published in the July ’21 digital edition of T&C News
July 2, 2021
Julie Pardy
P.R.A. Review Of SM&CR - What Can We Learn?
In December, the PRA published the results of it’s research into the implementation of SM&CR in dual-regulated firms. Read Julie’s article to understand the PRA’s key findings and what we can all learn from it…
Note – this article was first published in the April ’21 digital edition of T&C News
April 7, 2021
Julie Pardy
SMCR A Welcome Delay To Final Implementation For Many
First published in PIMFA’s quarterly journal, this article discusses the opportunities & challenges of the delay to the SMCR deadline…
November 6, 2020
Julie Pardy
Operational Resilience: The Tipping Point To A Better World?
Recently published in T&C News, we discuss the challenges posed by the FCA’s focus on Operational Resilience & suggest ways to move forward..
October 28, 2020
Julie Pardy
The Directory – Coming to you in 2020!
First published in T&C News, this article discusses the opportunities & challenges of implementing the FCA’s Directory regulation…
October 28, 2020
Julie Pardy
Which Regulatory Software Suppliers Should Firms Trust?
First published in T&C News – With the FCA’s focus on RegTech, firms are being encouraged to partner with solution suppliers, but which ones can you trust?
October 28, 2020
Andy Nightingale
Changing Culture In Firms – Why Complaints Will Become Important
First published in Finance Monthly, this article discusses the FCA’s intended focus on complaints as a measure of culture change and SM&CR and provides suggestions to help…
October 28, 2020
Julie Pardy
Steering Certification Through Lockdown
First published in T&C News, this article discusses the challenges of managing Certification through Covid and provides some helpful advice…
October 28, 2020
Julie Pardy
IT & Cyber Security – Why It Matters & What To Expect Of Your Sofware Suppliers
First published in T&C News – The changing expectations of financial services firms surrounding IT and cyber security and what that means for both financial services firms and their software suppliers.
October 28, 2020
Andy Nightingale
SM&CR Roundtable Discussion
First published in Risk & Compliance magazine, this article discusses the challenges of implementing SMCR from a variety of perspectives…
October 10, 2020
Julie Pardy
Making Training & Competence Work
First published in Finance Monthly, this article considers T & C in the context of firms small and large and whether arrangements should be the same or different.
October 08, 2020
Julie Pardy