Sarah Lyons shares her thoughts on how she thinks the new regulation has been embraced by the industry, and what more could be done
It's an interesting premise – a set of rules that aren't really rules. An expectation of how to conduct business, without a manual telling us what's right and what's wrong. Consumer Duty compels us to conduct our business in the right way. Moving beyond ‘doing things right' to ‘doing the right thing', it asks us to question everything through the eyes of the client. And frankly – what's wrong with that? Well, almost one year on from the first deadline and I'm still having frequent conversations with many who think that the duty is a big fat waste of time. The objection goes ‘but of c...
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