David Tiller: Consumer Duty evidencing foreseeable harm 'a challenge' for platform tech upgrades

Cross-cutting rule

clock • 4 min read

Consumer Duty has raised the bar by introducing the anticipatory element of foreseeable harm, writes David Tiller. It has also re-emphasised the need to manage conflicts and put client interests first...

After going on record with my view that the long-awaited Consumer Duty final rules "will sort the wheat from the chaff", several advisers reached out to me and, paraphrasing, said, "great, more work for us - it's not as if any of you providers ever admit to your failings - it's just not that easy". And they have a fair point. Try to find an equity manager that says their market is not primed for growth and you will be looking for a long time. Check box databases of platform functionality suggest every platform can do everything, but advisers know better. In fact, getting to the true p...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

The impact of the Overseas Fund Regime explained

The impact of the Overseas Fund Regime explained

Initially covers UCITS funds issued in most EU and EEA member states

Mark Rendle
clock 18 August 2025 • 3 min read
Viewing Consumer Duty through the vulnerability lens

Viewing Consumer Duty through the vulnerability lens

Clients can be vulnerable in many ways

Mark Sanderson
clock 14 August 2025 • 4 min read
Why the FCA's data request demands more than compliance

Why the FCA's data request demands more than compliance

Shift towards data-driven regulation arrives at a 'pivotal juncture'

Claire Cherrington
clock 31 July 2025 • 4 min read