FCA: 'Firms should not need to wait for us to make changes'

Regulator’s Lucy Castledine reflects on Consumer Duty six months in

Isabel Baxter
clock • 2 min read

Firms need to be proactive and take ownership when it comes to Consumer Duty, delegates heard.

Speaking at the Personal Investment Management & Financial Advice Association Consumer Duty conference today (28 February) Financial Conduct Authority (FCA) consumer investments director Lucy Castledine, reflected on the Consumer Duty regulation six months on. This is a point for firms to reflect on how they are implementing the Duty, according to Castledine. "Is your glass half full or half empty?," she asked. "Consumer Duty is an outcomes-based regulation. Firms need to strive to be an all-rounder." Castledine added: "It is about culture and firms need to take ownership and pr...

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