Navigating the Consumer Duty Landscape with TURN ( The Universal Reporting Network )

Consumer Duty

In the dynamic world of financial compliance, a new rhythm is reverberating throughout the retail investment sphere—the Consumer Duty data sharing functionalities. With regulatory terrain in constant flux, the imperative for a system capable of managing complexity while ensuring ease and efficiency for asset managers and distributors has never been more crucial. Enter TURN (The Universal Reporting Network), offering a solution that orchestrates the disparate elements of regulatory reporting into harmonious unity. 

TURN: A Beacon in the Regulatory Storm 

At TURN, we’ve meticulously crafted a platform leveraging blockchain technology that ensures that every piece of data is transparent and immutable, forging an audit trail as robust as it is reliable. 

Now, asset managers can seamlessly disseminate information to distributors, secure in the knowledge that the integrity of their data remains intact. Similarly, distributors are empowered to access and leverage data with the assurance of its accuracy and relevance, enabling them to make informed decisions aligned with the best interests of consumers. 

But we haven’t stopped there. TURN not only accommodates the Distributor Feedback Template (DFT) but augments its capabilities 

Understanding the DFT’s Role 

The Distributor Feedback Template (DFT) emerges as a cornerstone in the edifice of regulatory adherence, bridging the chasm between the stringent demands of consumer protection and the pragmatic realities encountered by the industry. It furnishes a structured framework for data exchange, not only underpinning compliance but also nurturing an environment of transparency and accountability. It elevates the ability of product manufacturers to truly understand their target market and tailor their products for the best customer outcomes. 

Tailored to encapsulate the essence of Consumer Duty regulations, the DFT ensures that both  distributors can efficiently share vital information with manufacturers, safeguarding the interests of end consumers. From suitability assessments to product governance, the DFT functionalities span the spectrum of data exchange required by the evolving demands of Consumer Duty. 

The Future is Now: Engaging with TURN 

As we cast our gaze toward the future, the integration of TURN’s platform with DFT functionalities emerges not merely as a beacon of innovation but as a testament to our industry’s adaptability and commitment to consumer well-being. We’re not merely reacting to regulatory shifts; we’re forging ahead of the curve, shaping the narrative of compliance with our forward-thinking solutions. 

Join the Revolution in Compliance 

The voyage toward streamlined, transparent, and effective Consumer Duty compliance is well underway, with TURN steering the ship. We invite you to embark on the journey into the future of fund data management firsthand. Reach out to us at TURN to delve deeper into our DFT functionalities and discover how we can elevate your compliance processes to the next echelon. 

Connect with us to explore how TURN’s innovative approach can infuse clarity, efficiency, and strategic insight into your compliance operations. This isn’t merely an invitation; it’s a clarion call to all industry leaders endeavouring to navigate the labyrinthine complexities of Consumer Duty with efficiency and finesse. 

Reach out to TURN today, and let’s spearhead the charge in revolutionizing regulatory compliance together. While Consumer Duty as a whole encompasses both distributor-to-manufacturer (DC to MF) and manufacturer-to-distributor (MF to DC) aspects, the DFT specifically pertains to DC to MF interactions. Additionally, TURN offers a template for MF-to-DC interactions, supporting the broader compliance framework.