FCA announces Consumer Duty focus areas

The FCA is currently inviting stakeholder views on its pure protection market study, since publishing its terms of reference earlier this year. It has now said it will commence its market study in H1 2025. The study itself is slated to examine three key aspects of the market: commission arrangements regarding fair value; products possibly not providing fair value; and competition weakening due to insurers exiting the market. Previous market actions in intermediated markets have restricted commission arrangements, the regulator referenced its actions towards the non-advised sales of fu...