Could Consumer Duty push asset managers out of UK retail market?

This is due to the disparities between the domestic regulation and regimes in other countries and may force asset managers to pivot their product strategies away from the retail segment as a result. The Financial Conduct Authority (FCA) coined the term ‘Consumer Duty' in December 2021, but it took the regulator approximately seven months to release the full rules, in July 2022. Over the year to the go-live date, several regulatory consultancies noted the focus from the FCA had been primarily on businesses with a consumer-facing function: financial advisers, wealth managers, platforms ...