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Practical analysis on embedding Consumer Duty, evidencing good outcomes, board reporting and distribution chains.
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A review of FCA Consumer Duty expectations post-implementation, common compliance gaps, and practical steps for ongoing compliance in 2025.
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CP26/23 proposes targeted changes to Consumer Duty scope. Mixed retail and wholesale firms should separate the live Duty from changes still under consultation.
How boards can transform Consumer Duty monitoring data into clear evidence of customer outcomes, meaningful challenge and accountable actions.
Practical guidance for authorised firms on substantiating claims, audience controls, and maintaining defensible approval records for financial promotions.
Upcoming FCA consultation on Consumer Duty application to distribution chains and potential exemptions for wholesale activities.
A review of FCA Consumer Duty expectations post-implementation, common compliance gaps, and practical steps for ongoing compliance in 2025.
Everything UK financial services firms need to know about Consumer Duty compliance, including the four outcomes and practical implementation steps.
The Financial Conduct Authority (FCA) has highlighted its focus on ensuring good consumer outcomes in its latest Business Plan, selecting 'putting consumers' needs first' as one of its four priority areas for the upcoming year. This comes in response to the ongoing cost of living crisis, and the FCA is committing additional resources and headcount to Consumer Duty-related activities.
On 1 March 2023, the FCA released a portfolio letter titled "Implementing the Consumer Duty in the Motor Finance Providers Portfolio." The letter highlights the need for a more consumer-focused approach and emphasizes that CEOs or directors should personally focus on implementing the Consumer Duty.
A financial promotion is any advertisement, communication, or other material that promotes a financial product or service. Financial promotions can take many forms, including print and online advertisements, marketing emails, social media posts, and sales presentations.
The FCA Consumer duty is a key principle of the regulatory framework that governs the financial sector in the UK. This principle requires financial firms to always act in the best interests of their customers and to put the interests of consumers first when carrying out their activities.
The FCA has outlined a new Consumer Duty. This will most likely be set out as rules and guidance in the FCA handbook. Ultimately, there will be a higher level of protection for consumers and a higher level of expectation of care from firms providing services.
Fair treatment of vulnerable customers has been a longstanding concern for the FCA . The FCA has released the Finalised Guidance (FG21/1). It sets out its view of what firms should do to comply with their obligations under the Principles and ensure they treat vulnerable customers fairly.
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