Firms call for more FCA guidance on Consumer Duty board reporting

In a white paper released by the professional body today (25 September), the CII partnered with FWD Research in July to ask members directly involved in board reporting about the challenges they had encountered in producing their first editions, including finding, reconciling or generating data. Every regulated firm is now required to produce a Consumer Duty board report, at least annually, to record its progress in achieving the customer outcomes set out by the Financial Conduct Authority (FCA). With the rules having come into effect in July 2023, the first board reports were due by ...