Consumer Duty clues clear in FCA work on retirement income

January survey ‘provides insights into future FCA expectations’

Sahar Nazir
clock • 2 min read

The Financial Conduct Authority’s (FCA) thematic review on retirement income “has many crossovers” with its expectations around Consumer Duty, according to Aegon.

Commenting one month after the implementation of the FCA's Consumer Duty regulation, head of pensions Steven Cameron said the review "provides a raft of insights into future FCA expectations, potentially beyond the retirement income space". "The survey covers areas such as target markets, ongoing advice services, vulnerable customers, platform selection, foreseeable harms, remuneration and culture," Cameron said. "The section on target markets asks about common client objectives, key characteristics, minimum fund values and groups for whom the firms' decumulation advice models may not...

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