CONSUMER DUTY NEWSLETTER

Use a version number for your plan Firms that have put a version number on their plan will be able to keep track of how the plan develops and what actions are being completed, amended or added within the plan. In all cases, you should remember that the FCA has said that it if it asks to see your plan, they will also ask for the board papers and meeting minutes, so make sure that you retain these too. Have everything ready Firms who have gathered together their resources at the very start of the process are finding that they can plough through the plan, without continual interruption caused by needing to seek out information that isn’t readily available. Use our guidance to get all of the information you are going to need ready and in an easy access format. Bankof IrelandUK isa tradingnameofBankof Ireland (UK)plcwhich isauthorisedby thePrudentialRegulationAuthorityand regulated by the FinancialConductAuthorityand thePrudentialRegulationAuthority.Registered inEngland&Wales.RegisteredNumber:7022885. RegisteredOffice:BowBellsHouse,1BreadStreet, London,EC4M9BE. Find out more Speak to your BDM or visit boi4i.com Bespoke because one size doesn’t fit all Our personalised and flexible service for good quality complex cases. Designed for clients who have good affordability but don’t fit straightforward lending criteria, such as: • Self employed • Contractors • Complex income structures • Large loans. We’re right here for you Time Firms are finding that the plan is taking them longer to construct that they had initially thought, so make sure that you plan times when the appropriate staff are available. You are not alone There is lots of support available to help you prepare. If you buy compliance support from Paradigm, please don’t hesitate to contact your Consultant for assistance, and make sure you visit the “Hot Topics” section of our Members Area on our website, where you will find FAQs, good and poor outcome examples and the papers themselves. If you don’t buy compliance from us, you can still use Paradigm for ad-hoc support; please get in touch and we would be delighted to discuss further. You can call the team on 0161 486 4890 . 9 CONSUMER DUTY NEWSLETTER