Will Consumer Duty make platforms 'governance vehicles'?

So, what does the modern platform look like?

clock • 3 min read

Wide-ranging Consumer Duty rules mean platforms are going to have to do more to monitor others in what is more literally becoming the ‘value chain', writes Alex Cowan-Sanluis

As a new cohort of platforms without legacy technology issues enter the market, many people are legitimately asking what exactly a platform is, should do and should look like. I don't think many would expect the answer to be a governance vehicle, but Consumer Duty is placing a greater responsibility on platforms to make sure the end client gets value for money. Through the wide-ranging rules, platforms are going to have to do more to monitor others in what is more literally becoming the ‘value chain'. The Financial Conduct Authority's (FCA) final guidance paper on the incoming regu...

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