The first online event for the new Consumer Duty Champions’ Forum will take place in September.

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.

Michael Lawrence is currently principal consultant at Bovill, where he advises clients on regulatory frameworks governing advised and non-advised pension and investment models, product governance, and complaints.

He spent 16 years at the FCA, most recently as a technical specialist in consumer investments supervision.

Mr 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."

The Consumer Duty Alliance was launched by a team led by former Personal Finance Society CEO Keith Richards on 9 March as a non-profit independent professional membership body.

Mr Richards 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 are few better placed to chair the forum.”

The purpose of the Consumer Duty Alliance is to unite the retail Financial Services sector to inspire greater confidence and trust in financial advice and financial planning by supporting the delivery of consistently good outcomes so firms are seen alongside other professional services as a ‘safe pair of hands’.

The Alliance incorporates the Financial Vulnerability Taskforce, the adoption of a consumer facing Financial Vulnerability Charter and the Pensions Advice Taskforce.

The Alliance works with practitioners, subject matter experts and foundation affiliates to create good practice guidance, references and links to third parties supporting the profession in achieving their Consumer Duty requirements.

Individuals and firms can join the Alliance for free.