FCA Priority • New Standards for Consumer Protection

Consumer Duty Compliance

The FCA's Consumer Duty sets higher standards of consumer protection, requiring firms to put customers' needs first and deliver good outcomes. We help you implement comprehensive frameworks to meet these new requirements.

Get Consumer Duty SupportCall: 0330 133 0811

The Four Consumer Outcomes

FCA's Consumer Duty focuses on delivering good outcomes across four key areas

Fair Value

Products and services must provide fair value to customers

  • Price-quality relationship assessment
  • Regular fair value reviews
  • Evidence of value provided to customers

Consumer Understanding

Communications must enable customers to make informed decisions

  • Clear, accurate, and timely information
  • Testing consumer understanding
  • Avoiding foreseeable harm from communications

Consumer Support

Customer service must meet the needs of consumers

  • Accessible and effective support channels
  • Assistance for vulnerable customers
  • Proactive identification of customer needs

Products & Services

Products must meet customer needs and perform as expected

  • Design aligned with customer needs
  • Performance monitoring
  • Action when products don't deliver good outcomes

How We Support Your Consumer Duty Implementation

Comprehensive support to embed Consumer Duty across your organization

Gap Assessment

Comprehensive review of your current practices against Consumer Duty requirements

Includes:

  • Policy and procedure review
  • Product and service assessment
  • Communication effectiveness analysis
  • Customer journey mapping

Implementation Support

Practical guidance to embed Consumer Duty principles throughout your firm

Includes:

  • Policy and procedure updates
  • Training program development
  • Governance framework design
  • MI and monitoring tools

Evidence Framework

Systems to demonstrate compliance and track consumer outcomes

Includes:

  • Outcome measurement frameworks
  • Board reporting templates
  • Fair value assessment methodologies
  • Ongoing monitoring programs

Core Consumer Duty Requirements

Firms must act to deliver good outcomes for retail customers and avoid foreseeable harm

Put customers' needs first
Deliver good customer outcomes
Enable customers to pursue their financial objectives
Act in good faith toward customers
Avoid foreseeable harm
Support customers to make good decisions

Ready to Implement Consumer Duty?

Get expert support to meet FCA's new consumer protection standards

Contact UsEmail Us

📞 Phone: 0330 133 0811

📧 Email: contact@memaconsultants.com