Consumer Duty: Will it 'fix' financial services once and for all?

'Consumer Duty may not the cure-all that FCA would like to see'

clock • 4 min read

Compliance consultant Tony Catt shares his views on Consumer Duty implementation and asks if this set of rules will, once and for all, improve consumer outcomes...

There have been many inches devoted to Consumer Duty. The Financial Conduct Authority's (FCA) latest iteration, which has been described as "Treating Customers Fairly on steroids", is the most recent attempt to get financial advisers to take care of clients and give them services and products that will end with a decent outcome for customers. Surely all advisers have this as the primary consideration, but it still seems not to be the case. The advisers that I work with have had this culture, but on the occasions that this has not been the case, I have refused to continue to work with ...

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

Simpler advice rules should not mean simpler client understanding

Simpler advice rules should not mean simpler client understanding

The direction of travel is clear

Elly Dowding and Lee Coates
clock 17 July 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 14 July 2026 • 1 min read
The Mills Review: AI innovation must be matched by AI governance

The Mills Review: AI innovation must be matched by AI governance

As AI becomes embedded in FS governance can no longer be treated as an afterthought

Chris Davies
clock 13 July 2026 • 4 min read