Driving up industry standards in financial services
Our best practice standards provide a robust framework to help firms deliver good customer outcomes, in many instances where there is no other regulation, and collectively drive-up industry standards.
As the primary self-regulatory body for financial services, the LSB is agile and able to effectively identify and respond swiftly to risks to implement protections for consumers and SMEs. We do this by:
• Setting standards,
• Conducting oversight, and
• Providing insight to support firms to embed the Standards and Codes.
The LSB is outcomes focused, allowing firms flexibility to achieve good outcomes regardless of their size or delivery channels and to innovate and deliver products and services that meet the evolving needs of their customers. Our oversight regime recognises this and focuses on how firms can demonstrate they are meeting the outcomes.
What to expect from registration
Access to objective and independent oversight
Robustly monitoring firms’ implementation of and ongoing compliance with our Standards and Codes through thematic and individual reviews, relationship meetings and self-attestation.
Access to the latest thinking
Providing insight and thought leadership on how standards evolve and how industry is addressing evolving customer needs.
Assurance internally over your treatment of customers
Firms are provided with reports and recommendations to improve practices, evidencing to internal stakeholders their compliance with the Standards and Codes and treatment of customers.
Free event attendance
Two free places at any of our roundtables designed to support firms to embed the best practice Standards and Codes.
Emerging risk insight
Join other registered firms at our Emerging Risk Forum to gain insight into tackling industry challenges and newly developing risks.
Insights reserved for registered firms only
Access thought pieces, training material and research for registered firms only, accessible on the private side of our website.
Opportunity to meet with leading industry professionals
Bringing other industry professionals together to discuss hot topics and share insights, registered firms receive priority spaces at all events.
Bespoke training to support vulnerable customers
Understanding your organisation and customer base, registered firms can access the latest thoughts and training on understanding your customer’s needs.
The Registration Process
Supporting your organisation to achieve fair customer outcomes.
Early engagement
An opportunity to understand how firms are supported through the registration process, their motivation for registration and approach to good personal and SME customer outcomes.
Interim registration
Interim registration signals a commitment to working towards compliance with our Standards and Codes, and allows 12 months tailored support to reach full registration.
Full registration
Firms reaching full registration are assigned a Compliance Manager, gain access to restricted insights and training and free attendance at all LSB events.
What firms are saying
Testimonials
The LSB provide invaluable challenge and insight, we would encourage more of industry to join.
Credit card provider
Fintech X has been a registered firm with the LSB since July 2018 and they have helped our company to embed excellent practices for standards of customer care.
Fintech lender
The LSB is an industry-wide recognised and respected body, with a long established set of Standards aimed at ensuring customer protections and fair outcomes.
Large debt purchase firm
With increasing focus on digitalisation and emerging threats, potential customer harm is likely to increase, therefore, the need for effective voluntary standards has never been greater.
Retail bank