Disproportionate burden: Consumer Duty and smaller advice firms

The Financial Conduct Authority (FCA) has recently published its review of how larger firms are progressing with their Consumer Duty implementation plans. It will shortly be the turn of smaller firms, which form the vast majority of the industry, to come under the microscope. Collecting new data and mining what it already collects, the regulator will be measuring just how seriously smaller firms are taking the new Duty, and finding out what particular issues they have to face. Will smaller firms have to work harder to implement the rules, or is everything fine? A recent exit poll from...