Consumer Duty: An implementation break down for your business

A handy guide to implementation for regulated firms

clock • 7 min read

Jenny Smyth sets out in practical steps what businesses need to do to comply with the FCA’s Consumer Duty ahead of the October ‘plan’ deadline

You are probably sick of seeing the words ‘Consumer Duty' - they seem to be everywhere at the moment, with a plethora of guides and warnings about the October ‘plan' deadline. There's a lot of noise about the existence of Consumer Duty, and explanations of what the regulations entail, but what is less prevalent is the practical advice - the ‘how' to implement it into your business. Well, that's the difficult point. This new regulation is different to previous releases from the Financial Conduct Authority (FCA) in as much as it can't be covered off by a tick list to prove that your fir...

To continue reading this article...

Join Professional Adviser

  • 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

Advice firm Holborn Assets under FSCS investigation

Advice firm Holborn Assets under FSCS investigation

Advisory firm went into administration in October this year

Jenna Brown
clock 06 December 2023 • 1 min read
FOS to cut case fee costs and levy bill by £60m next year

FOS to cut case fee costs and levy bill by £60m next year

Latest plan and budget published by financial complaints body

Jenna Brown
clock 06 December 2023 • 3 min read
Chris Davies is founder and director at Model Office

'Targeted, intrusive and assertive': The FCA's new pro-active approach

Latest Dear CEO letter from regulator speaks volumes

Chris Davies
clock 04 December 2023 • 4 min read