Browse all articles across people aspects of regulation and people development within UK financial services
By the time you are reading this article your firm’s implementation plan detailing how you will meet the Consumer Duty’s fundamental principles should be finalised or be remarkably close. And, given the nature of the Consumer Duty improving customer outcomes will be at the very core.
Compliance teams in most firms will have processes and tools in place for monitoring their firm’s performance against each of the major pieces of regulation that have come into place in the recent years.
Over the years, the FCA has been fighting a (losing) battle to try to stop consumers receiving poor value and poor advice relating to financial services. The FCA has tried various different initiatives over the years.
Last December the FCA issued a second Consultation Paper (CP) on the Consumer Duty of Care (CDOC) – CP21/36. This CP provided feedback from the earlier consultation on the same subject (CP21/13), together with further views on what the regulator is concerned about and what they are seeking to change.
