Andrew Phipps looks at Consumer Duty compliance and says while it takes two to tango, various sectors of the industry must not step on each others' toes...
The Financial Conduct Authority's (FCA) new Consumer Duty regime represents the most wide-ranging initiative in conduct regulation since the Retail Distribution Review (RDR). Businesses large and small are furiously analysing their governance, products, value, customer engagements and culture to be ready in time. There's now a positive sense that most firms are making good progress in their journey towards compliance, but as the implementation date draws closer two things are becoming evident. Firstly, firms are struggling with what the Duty really means for individual business -...
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