Consumer Duty should not be viewed as yet another piece of regulation to simply comply with but as an opportunity for the advice profession to take control and ownership, Keith Richards has said.
Speaking at the PA Management Retreat 2023 yesterday (17 May), Richards said advisers should look on the regulation - due to come into force on 31 July - as a set of reforms based on principles "that we can own as a profession". The Consumer Duty Alliance founding director and chief executive (CEO) said it was clear that a political agenda existed behind the introduction of the Financial Conduct Authority's reforms. He said: "This is where they [regulators and policymakers] are looking for us to take that lead. This could be the turning point. We have come on an evolutionary journey a...
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