The Financial Conduct Authority (FCA) is currently investigating 11 instances of potential breaches of its flagship Consumer Duty regulation as well as reviewing it, as it publishes a good practice review for the regulation.
According to its second Enforcement Watch newsletter, published on Tuesday (7 July), the FCA said the 11 cases span operations in the insurance, pensions, wealth management, consumer investments, peer-to-peer lending and claims management sectors. "In several cases, we are investigating whether consumers received fair value for a product or service in line with PRIN 2A and/or our PROD Rules which work alongside the Consumer Duty," the FCA stated. The regulator explained that it only opens investigations where its supervision team has detected "serious misconduct" and enforcement is ne...
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