Putting the Consumer Duty implementation plan into action

'There's always room for improvement'

clock • 4 min read

Lee Halpin revisits Consumer Duty five months on from implementation and asks if the industry is doing enough...

The Consumer Duty has been in force for almost five months now. Doesn't time fly when you're having fun? (And actioning and normalising a year's worth of Consumer Duty preparation). There was a lot of attention on the new rules in the run-up to the implementation date (31 July). Vast amounts of news stories and column inches were dedicated to it. But really that was just the start for us financial services businesses. With the Financial Conduct Authority (FCA) having put so much work into the Duty, it's naturally very keen to see firms are not viewing it as a tick box exercise. To ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Consumer Duty

Model Office launches automated Consumer Duty board report

Model Office launches automated Consumer Duty board report

Comes as the 31 July deadline looms for advice firms of all sizes

Isabel Baxter
clock 16 May 2024 • 1 min read
Data analysis critical as Consumer Duty annual report deadline looms

Data analysis critical as Consumer Duty annual report deadline looms

Firms of all sizes must complete Consumer Duty report by 31 July

Jenna Brown
clock 15 May 2024 • 3 min read
Advisers told 'show your workings' in first Consumer Duty report

Advisers told 'show your workings' in first Consumer Duty report

Consumer Duty was not a 'once and done' scenario

Jenna Brown
clock 15 May 2024 • 3 min read