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

Filling the gaps: Taking a holistic approach under Consumer Duty

Filling the gaps: Taking a holistic approach under Consumer Duty

Gaps, Price and Value, CIP/CRP

Karl Dines
clock 02 January 2025 • 4 min read
Big 'variability' in advice firms' Consumer Duty-driven fee changes

Big 'variability' in advice firms' Consumer Duty-driven fee changes

38% have already made model switches with more likely to follow

Jen Frost
clock 11 December 2024 • 2 min read
Industry reaches Consumer Duty stalemate and calls for FCA to provide further clarity on cost disclosure reforms

Industry reaches Consumer Duty stalemate and calls for FCA to provide further clarity on cost disclosure reforms

Trusts facing partial deplatforming

Eve Maddock-Jones
clock 13 November 2024 • 10 min read