The Consumer Duty Alliance has appointed Michael Lawrence as chairman of its newly launched Consumer Duty Champions’ Forum.
The forum aims to help Consumer Duty Champions benchmark through early experience and the sharing of good practice.
Lawrence (pictured) worked at the Financial Conduct Authority (FCA) for 16 years, most recently as a technical specialist in consumer investments supervision. He joined Bovill as principal consultant in February 2023 to advise clients on the regulatory frameworks governing advised and non-advised pension/investment models, product governance, as well as complaints and redress.
The Consumer Duty Champions’ Forum will enable Consumer Duty Champions, compliance directors and other appropriate Alliance members to raise and discuss key issues and challenges around the implementation of Consumer Duty. Its first online event will take place in September 2023.
Lawrence said: “It’s clear from the extensive and positive reaction to the launch of the Consumer Duty Alliance that there is a real need and demand for an independent body focusing on this significant piece of regulation through a collaborative Alliance.
“I’m excited to chair the Consumer Duty Champions’ Forum and look forward to fostering a robust and inclusive dialogue that ensures our collective efforts lead to tangible positive impacts for consumers.”
Johnny Timpson OBE, ambassador for the Alliance and architect behind the creation of the Champions’ Forum added: “Every firm needs a Consumer Duty Champion and now that the legislation is live, this new forum offers practical support through the sharing of good practice more widely, and aims to help members’ through shared experiences, new ideas and shared innovations.”
Keith Richards, chief executive officer of the Consumer Duty Alliance said “We’re delighted that Michael has agreed to chair this key Alliance forum. His first-hand regulatory knowledge and hands-on experience since leaving the FCA in his current role at Bovill, engaging with firms of all sizes and helping them meet their Consumer Duty obligations, means that there is no one better placed to chair the forum.”