Nearly three-quarters of advisers said they were concerned about the forthcoming Consumer Duty rules and guidance, with 7% of them saying they were very worried, according to research from M&G Wealth.
The FCA is expected to publish its final rules by 31 July 2022. An implementation period will then run until 30 April 2023, by which time, the regulator will expect firms to have fully implemented the Consumer Duty. The duty includes the new Principle 12. Learn more about the FCA Consumer Duty at the PA Smarter Business Roadshow In terms of the potential change it would bring to their suitability advice process, more than two thirds (68%) said that they would need to wait and review it when the final rules are out, with a quarter (25%) believing it is likely to result in little change...
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