Firms face challenges producing Consumer Duty board reports: CII

The report, which is based on a July 2025 survey of 337 CII members, showed that 'knowing what data to include', 'availability of appropriate data' and 'integrating data' were key areas that challenged firms. Late last year, the Financial Conduct Authority (FCA) published a summary of good practices for reporting as well as areas for improvement based on board reports from 180 firms. It said that focusing on outcomes, quality data, analysis of customer types, a clear process and a focus on firm culture were aspects of a good report, based on what it had received. However, it noted ...