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Consumer Duty Policy

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Consumer Duty Policy

Overview

New UK FCA Consumer Duty rules aim to deliver good outcomes for retail customers. These rules are based on the overarching principle of acting in customers’ interests and apply to both new and existing products open to sale or renewal.

Key Principles

  1. Act in good faith towards customers.

  2. Avoid foreseeable harm to customers.

  3. Enable customers to pursue financial objectives.

Four Pillars of Success

  1. Customer Understanding: Ensure products fit the target market and match customer needs.

  2. Pricing and Fair Value: Ensure customers pay fair prices.

  3. Product and Service Governance: Design products to meet customer needs.

  4. Customer Support: Provide good service and ensure customer satisfaction.

Cepta’s Commitment

These principles and pillars are central to how Cepta interacts with customers and prospective customers. We ensure:

Consumer Understanding

  • All communications (written, visual, or verbal) support consumer understanding, helping customers make informed decisions.

  • Information is tailored and delivered through appropriate channels to meet customer needs.

  • Communications are clear, fair, and not misleading, maximizing customer engagement and enabling effective decision-making.

Customers in Vulnerable Circumstances

The FCA defines vulnerability as susceptibility to detriment due to personal circumstances. Cepta supports vulnerable customers by:

  • Training colleagues to recognize and support customers with vulnerability characteristics.

  • Implementing processes for customers to share and record support needs and sharing this information appropriately.

Complaints

Cepta has robust complaints reporting, processes, and controls:

  • Customer Awareness: Customers are informed about how to complain.

  • Handling a Complaint: Processes include receiving, learning from, and assuring quality in complaint handling.

  • Complaint Resolution: Steps include clarifying complaints, assessing merits, finding solutions, and dealing with the Money Advice Service if necessary.

Contact Us

For support or complaints, please contact Cepta at: