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

Risks and opportunities from the 'death of the annual review'

Risks and opportunities from the 'death of the annual review'

'Annual reviews have historically acted as a safeguard against disengagement'

Graeme Devlin
clock 29 May 2026 • 4 min read
Non-financial misconduct: Rising expectations and rising exposure

Non-financial misconduct: Rising expectations and rising exposure

'Managers need to know what to look for and what to do in the moment, including when to escalate'

Sarah Jackman
clock 27 May 2026 • 5 min read
FCA must still fix investing culture, says LSE CEO

FCA must still fix investing culture, says LSE CEO

‘We’ve protected people from the downside but we haven’t exposed the upside’

Sophia Panayi
clock 20 May 2026 • 1 min read