Has 'positive consumer outcomes' become a meaningless stock phrase?

'The phrase now seems almost inescapable'

clock

Demonstrating a commitment to the delivery of positive consumer outcomes is more than just a tick box exercise for the FCA, writes Ian Stott

Have you ever heard a phrase so many times it becomes almost meaningless? ‘Delivering positive consumer outcomes' has become one of the regulator's hot phrases over the years, but through over prevalence it is now at risk of losing its impact and resonance with the industry. While vocalising a commitment to treating customers fairly (TCF) is admirable, without demonstrable action it remains merely a set of words describing an abstract concept.    Phrase fatigue? Stemming from the Financial Conduct Authority's (FCA) six TCF principles, delivering positive consumer outcomes does ...

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 Regulation

FCA chair: Name and shame plans 'valid' despite 'stern reaction'

FCA chair: Name and shame plans 'valid' despite 'stern reaction'

Ashley Alder was speaking at a Treasury Committee hearing

Cristian Angeloni
clock 09 May 2024 • 4 min read
Ban and £120,300 fine for former firm CEO who 'put investors at risk'

Ban and £120,300 fine for former firm CEO who 'put investors at risk'

James Lewis was chief executive at London-based Shard Capital Partners

Hope Coumbe
clock 07 May 2024 • 1 min read
Progress over perfection: Targeted support has huge upsides

Progress over perfection: Targeted support has huge upsides

Targeted support is not perfect but 'may be good enough'

Chris McCullam
clock 07 May 2024 • 4 min read