Conduct Healthcheck for retail financial institutions

Survey report exploring conduct risks and challenges faced by businesses globally due to the pandemic

The global COVID-19 pandemic has brought the importance of good conduct and fair customer outcomes firmly into the spotlight. Whilst the ethos of this principle is clear, how to interpret it effectively across different sectors, customer service arrangements and delivery models can be challenging. Businesses have also had to rapidly adapt to the broad range of guidance expectations published by global regulators in respect of how customers should be treated. Taken together, these challenges increase the risks of inconsistency, poor outcomes and potential customer detriment.

Against this backdrop, we carried out a survey of global financial institutions to explore how they have responded to the various conduct challenges that COVID-19 has brought about, and to identify key themes, trends and areas of potential further consideration. Respondents included senior managers, directors and senior stakeholders from across the financial services industry in Europe, Asia Pacific, the Middle East and North America.

We invite you to read the findings of the survey which cover the following subject areas:

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COVID-19 governance and oversight
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COVID-19 response plans
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Adhering to regulatory conduct expectations
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Conduct training and staff awareness
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Quality assurance and oversight of regulatory conduct matters
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COVID-19 learnings and next steps
   

We hope you find the report insightful. Please do get in touch if you would like to discuss any of the topics covered further.