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Consumer Duty

Summit Vans Limited t/a Summit Drive are committed to complying with the UK Financial Conduct Authority (FCA) Consumer Duty regulation, which came into effect in July 2023. We prioritise the interests of our customers, ensuring they are treated fairly, provided with clear information, protected from harm, and that our staff take individual responsibility for compliance.

OBJECTIVES:

  • Customer Focus: We will always act in the best interests of our customers, ensuring their needs are prioritised in all interactions and transactions. 
  • Transparency: We will provide clear and transparent information to our customers, ensuring they have the necessary details to make informed decisions. 
  • Prevention of Harm: We will take proactive measures to prevent harm to our customers, including but not limited to mis-selling, poor advice, or any form of misconduct. 
  • Individual Responsibility: Each member of our team is responsible for upholding the principles of the Consumer Duty in their day-to-day activities. This includes understanding their obligations and taking necessary actions to ensure compliance.

KEY PROCEDURES:

  • Training and Awareness: We will provide regular training sessions and resources to ensure all staff members are aware of their obligations under the Consumer Duty regulation. 
  • Documentation and Record-Keeping: We will maintain accurate records of customer interactions, ensuring that all communications and transactions are documented appropriately. 
  • Compliance Monitoring: We will conduct regular reviews and assessments to monitor compliance with the Consumer Duty regulation. This may include internal audits, checks, and assessments. 
  • Reporting and Escalation: Any concerns or potential breaches of the Consumer Duty regulation should be reported immediately to the designated compliance officer or manager for investigation and appropriate action.

DAY TO DAY

We continually aim to understand the needs of our customers. 
We ensure that the marketing of our products is appropriately targeted, clear, not misleading and highlights the risks/conditions as well as the key features/benefits of a product. 
We make certain our clients understand the risks associated with our services at the outset of an instruction. 
We keep our clients fully informed in a clear and fair manner that is unambiguous and not misleading. 
We ensure our services are delivered with clarity and transparency and do not contain hidden conditions or rely on complex technical definitions. 
Any advice provided will be appropriate and take into account the customer's individual needs and circumstances. 
We take our clients' privacy seriously and ensure that our staff are aware of and follow rules in relation to data protection to ensure that clients' details are kept secure and confidential. 
We take any complaint seriously and will deal with any complaints promptly and make improvements to our operations where required.

IF YOU HAVE A COMPLAINT

Please visit our complaints procedure page.