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Keith Richards: Five things to know about the Consumer Duty Alliance

“Larger organisations, be they other professional bodies, trade associations or corporations, are also free to join as affiliate members as long as they are commitment to share and develop good practice across the sector.”

Initial funding of CDA has come from its foundation affiliates.

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Richards says that as the organisation grows it will remain open to having funding discussions with any organisation that is able to support any unfunded objectives going forward. 

“For example, if the alliance continues to invoke the positive responses we have had to date and starts to realise its potential, it would make sense to create some initial employment opportunities within the operational structure of the alliance to enable it to grow at pace,” Richards adds.

“As for events, as a board we are not looking to reinvent the wheel and will look to promote and signpost events being run across the sector, with an initial focus on those being run by our affiliate membership.”

Ima Jackson-Obot is deputy features editor of FTAdviser