Consumer Duty Two Years On: What Finance Teams Learned
It is two years since the Consumer Duty extended to closed products and services, and roughly three since it first applied. Long enough for firms to have produced several annual board reports, been through supervisory engagement, and discovered where their arrangements were weaker than they …
Consumer Duty MI: What Finance Must Produce
The Consumer Duty changed what FCA-regulated firms have to be able to demonstrate, and a large part of the demonstration is data. Boards must satisfy themselves annually that the firm is delivering good outcomes for retail customers, and that assessment rests on management information — …
FCA Consumer Duty: What It Means for Your Finance Function
The FCA’s Consumer Duty has been in force since July 2023 for new and existing products and services, and since July 2024 for closed products. Two years into the regime, the FCA is moving from the implementation phase to the outcomes-testing phase — and the …
