Act now to formalise Consumer Duty proposition, advisers warned

PA360 Conference

Jenna Brown
clock • 2 min read

Advisory businesses have been urged to get their skates on to formalise a Consumer Duty proposition ahead of the looming implementation deadline.

Speaking at PA360 in London on 27 April, SimplyBiz head of business consultancy Karl Dines(pictured) said in just three months' time the rules will be in place.  "It is right at our doorstep," he warned. "There is work that you guys are going to have to do. And there will be a cost to that." The Financial Conduct Authority laid out its plans in Consultation Paper CP21/36, which closed on 15 February 2022. The rules apply from 31 July 2022 with an implementation period of nine months up to April 2023. Dines said the incoming Consumer Duty could be thought of as a "turbocharged TFC (...

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

Northumberland firm declared failed by FSCS over pensions advice

Northumberland firm declared failed by FSCS over pensions advice

PCM Asset Management lost FCA authorisation in 2019

Sahar Nazir
clock 05 June 2025 • 1 min read
FIF25: SDR plans for MPS should be 'natural progression' for FCA

FIF25: SDR plans for MPS should be 'natural progression' for FCA

A ‘clear’ move that the industry will be pushing for, panellists say

Isabel Baxter
clock 05 June 2025 • 2 min read
FIF25: More than 130 funds adopt SDR labels as confidence and timing improves

FIF25: More than 130 funds adopt SDR labels as confidence and timing improves

Many firms on 'wait-and-see' mode

Cristian Angeloni
clock 04 June 2025 • 3 min read