Consumer Duty Flyer - Flipbook - Page 4
The Hogan Lovells
approach
‘We expect the focus on acting to deliver
good outcomes to be at the centre of firms’
strategy and business objectives.’
Siloed thinking won’t get Consumer Duty done. A regulatory change of this scale and
complexity must be tackled with a holistic approach.
The organic and interrelated nature of organisations means there will be common issues across business and
product lines.
Which is why Hogan Lovells advocates a combination of a top-down and bottom up analysis:
CP21/13, 15.1
Top down
•
Taking a cross-company view
•
Identifying common themes and
issues
•
•
Bottom up
•
Taking the learning from other
sectors and
product lines
Surfacing the immediate concerns
and problem areas
•
Undertaking the granular
analysis required
Gaining early wins and giving
a clear demonstration of progress
(to internal stakeholders and to
the regulator)
•
Fixing the issues, at source
•
Feeding insights into the
company-wide view
Hogan Lovells | 4