PA360 North: Advisers and FCA 'misaligned' on Consumer Duty

Speaking at PA360 North today (1 October), Benchmark Capital commercial director Gillian Hepburn noted that advisers and the regulator have said very different things about the regulation. She noted that in reaction to the implementation of Consumer Duty, most advisers said that their clients are happy, they are doing what the regulation requires anyway, but they "just need to write it down" and "nothing will change". Meanwhile, the FCA set out to become a "more assertive and data-led regulator" and stated that Consumer Duty is a "major shift in financial services" and is the "end of ...