Consumer Duty Board Report Diagnostic

The FCA expects every firm to produce an annual Consumer Duty board report by 31 July each year. This diagnostic helps you prepare by assessing your firm across the seven areas the FCA evaluates:

• Governance & Oversight: Board MI quality, SMF accountability, challenge culture
• Products & Services: Target market definitions, distribution monitoring, product reviews
• Fair Value: Product-level assessments, total cost analysis, remediation processes
• Consumer Understanding: Communications testing, alternative formats, plain language
• Consumer Support: Switching friction, channel consistency, complaints root-cause analysis
• Vulnerable Customers: Disaggregated outcomes, identification processes, differentiated support
• MI & Monitoring: Outcome metrics, data quality, tolerances and triggers

How It Works

Start with 12 core questions covering the most critical topic in each category. This gives you a useful summary with category scores, top evidence gaps, and priority actions in about 4 minutes.

If you want more depth, unlock 16 additional questions for a comprehensive diagnostic with a full radar chart, complete evidence checklist, and detailed action plan — the kind of analysis you need for a board-level report.

Who Should Use This Tool

This diagnostic is designed for Heads of Compliance, Consumer Duty owners, COOs, and board members preparing their annual outcomes assessment. It is equally useful for external consultants conducting gap analyses for client firms.