Consumer Duty: From implementation to validation

A look at where work still needs to be done as we move to the next phase

clock • 2 min read

The Consumer Duty deadline is upon us and firms need to act now, writes Chris Davies...

So, it's the day of the Consumer Duty implementation deadline, where firms need to comply with all the Duty regulations. Even though many have completed exemplary work, our RegTech platform Model Office's data (covering more than 1,000 firms) still, worryingly, shows many firms have work to do particularly around key issues such as; Value for money i.e., benchmarking products and services value against client experience Status quo bias, believing current practice is already good enough  Measurement of client good outcomes on an on-going basis  Identifying, monitoring and repor...

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