Staying on top of value assessments under Consumer Duty

The Consumer Duty deadline is fast approaching, meaning firms that sell packaged retail investment and insurance products (PRIIPs) to retail customers in the UK - together with other firms in scope of the Consumer Duty - should now have concluded their value assessment processes. Value assessments are required to ensure that the price a retail customer pays for a product or service is reasonable compared to the overall benefits that the product provides. Yet, as with many regulatory issues, the challenge comes via the subjective nature of the term ‘value'. While firms do have discreti...