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AFB Practice Roundtable: Consumer Duty for Banks Providing Retail Services: Focus on Closed Products & Ongoing Compliance Since July 2023

AFB would like to invite members who offer retail services to an in-person roundtable discussion on Consumer Duty ahead of the implementation date for closed products on 31 July 2024.

This roundtable, facilitated by Bovill, follows the recent AFB roundtable for banks that provide services to retail customers in February. It will look specifically at closed products, but will also consider the measuring of good outcomes in light of regulatory expectations following the introduction of the Consumer Duty in July 2023.

Why attend?

The implementation of the Consumer Duty so far has been a challenging task for firms. With less than a month to the final phase deadline, firms are likely to have already considered many areas from the initial phase, that can be leveraged to streamline what is required and to maintain a consistent approach.

Firms must be able to demonstrate they have implemented the Duty meaningfully and embedded a focus on the quality of consumer outcomes across all facets of their business.

Attendees will be invited to share their perspectives on the challenges being faced by international banks, draw upon the points raised, and pose questions to the team at Bovill and each other.

AFB will circulate an agenda and a series of questions to those registered to attend in advance which will be used to aid discussions.

Please note that capacity for the roundtable is limited to 30 members and one person per member bank.

Who should attend?

Legal and Compliance officers (and/or those responsible for implementation of the Duty) at banks that provide products and services to retail customers directly.


Mark Spiers – Partner: Mark Spiers is a Partner and has responsibility for overseeing Bovill’s Wealth and Consumer Finance, and Financial Crime teams. Mark has over 20 years’ experience in the industry, in particular across wealth management, banking and financial crime. Before joining Bovill, he worked in multiple compliance roles including as a Money Laundering Reporting Officer in several large international banks, including UBS and Kleinwort Benson.​ Mark is a hands-on practitioner who specialises in the practical interpretation of the rules in a commercial environment. He also has significant experience in handling regulatory intervention including thematic reviews and potential enforcement action.​

Michael Lawrence – Principal Consultant and Consumer Duty specialist: Michael joined Bovill as a Principal Consultant following 16 years at the FCA. During his time at the FCA, he designed, led and delivered over a dozen thematic reviews; inputted to a range of key policy initiatives (including the Retail Distribution Review, The Financial Advice Market Review and the Consumer Duty), and helped develop the regulatory strategies for the financial advice and Consumer Investment sectors. Michael has conducted numerous engagements looking at how wealth firms have implemented and embedded the Consumer Duty, including reviews of product governance frameworks, fair value assessment methodologies, customer journeys, people policies, and MI and governance. Michael speaks regularly on the Consumer Duty externally and also chairs the Consumer Duty Alliance’s Consumer Duty Champions Forum.


Fee:        Included in AFB membership (no fee)

Venue:    Leonardo Royal Hotel London City, 8-14 Cooper’s Row, EC3N 2BQ

               (nearest stations: Tower Hill and Aldgate)

Date:        Thursday 4 July 2024

Time:        09:00 – 10:30 (registration and refreshments from 08:30)

If you would like to submit a question before or have any specific questions or areas that you would like the roundtable to address, please send them to the AFB at You will receive details on how to join the roundtable a week before the event.