Ann-Marie McElhinney: Why advisers should act now on Consumer Duty

The latest FCA regulatory initiatives grid confirms the Consumer Duty timetable, with the final policy statement due in July and implementation by April 2023. The regulator also stated in its consultation paper last December (CP21/36) that it expects "firms to use the implementation period fully and to be able to demonstrate progress when asked". The clock is already ticking on Consumer Duty and firms need to set up good processes now so that you're ready for when the enforceable rules arrive. According to a recent survey by M&G Wealth, nearly three-quarters of advisers are concern...