Karl Dines: A little less consultation, a little more action please

There's quite a blunt message coming out of the consultation paper around the Consumer Duty, taking the form of three headlines that hit home immediately upon reading it. The regulator can, upon request, ask to see how a firm is complying with the Consumer Duty. The regulator will be treating compliance with the Consumer Duty as the responsibility of senior management under SM&CR. The regulator estimates that 51,000 firms will be affected by the Consumer Duty. What this says to me is all firms will be affected, from the big lads who manufacture products down to the small distri...