Consumer Duty: Ensuring firms comply and continue to compete

With our research showing only one in four firms taking action on the Consumer Duty and with less than a month to go until the first October 31 deadline, it is probably worth retail advice firm's sense checking where they are and what they need to do to ensure they have plans in place to assess their competence against this all-encompassing regulatory framework. So let's cut to it: They will need to have mapped out the business operations, services and products against the Financial Conduct Authority's (FCA) new Principle 12, cross-cutting rules and four outcomes. This means; Des...