Firms doing "the right thing" won't fear Consumer Duty: Nikhil Rathi

During a speech delivered at the Peterson Institute for International Economics in the United States yesterday (14 July), FCA chief executive Nikil Rathi said that the regulator is aiming to "break new ground" with the guidelines to ensure all financial services firms are measuring the "actual impact of their services and product suitability" on the end consumer. "Selling someone the right product, easily understandable with suitable customer service is hardly controversial but, too often, even established firms aren't delivering," he said. "Those firms who do the right thing and show...