Consumer Duty and Protection: The impact

Businesses across financial services have been trying to get their heads around the FCA's new Consumer Duty regulations. From July 2023, firms will be required to ensure they deliver good outcomes for customers, with a clear focus on vulnerability, ongoing monitoring, and evidence. However, firms soon face the first deadline with implementation plans needing to be ready for FCA review by the end of October.  As the purpose of the protection industry is to reduce harm, it should be in a good position to meet the demands. While there are some challenges, this is a major opportunity for ...