Consumer Duty: What comes next?

"There is a need to act to address harm"

Jaskeet Briah
clock • 3 min read

Following one year since the implementation of Consumer Duty, the Financial Conduct Authority (FCA) has announced what comes next after today's milestone.

In a speech by  Sheldon Mills, executive director of consumers and competition, FCA, it was revealed that the regulator will publish a grid of its forward programme of Consumer Duty work in the coming weeks now that the regulation has come into force, having opened a call for input yesterday (30 July).  Firstly, there is a need to act to address harm, or potential harm, to retail customers, Mills said. The FCA wants greater understanding of how financial services firms are embedding Consumer Duty, the outcomes customers are getting and where potential issues are emerging. Where the re...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

FOS records fall in complaints cases

FOS records fall in complaints cases

Less than 10 complaints for income protection

Isabel Baxter
clock 07 August 2025 • 3 min read
Disability and access ambassador for insurance appointed by Government

Disability and access ambassador for insurance appointed by Government

Replaces Zurich’s Peter Hamilton

Jaskeet Briah
clock 06 August 2025 • 3 min read
FCA to release pure protection papers in Q3

FCA to release pure protection papers in Q3

Update to Pure Protection Market Study

Jaskeet Briah
clock 31 July 2025 • 4 min read