Staying on top of value assessments under Consumer Duty

The challenge comes via the subjective nature of the term 'value'

clock • 4 min read

Jan Schembri takes an in-depth look at value assessments in light of Consumer Duty rules which come into operation at the end of the month...

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...

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 Consumer Duty

Assessment of value: Unintended Consumer Duty consequences

Assessment of value: Unintended Consumer Duty consequences

All parties now have an obligation to consider the value of their proposition

David Ogden
clock 14 June 2024 • 3 min read
Consumer Duty: How firms should prepare for the 31 July deadline

Consumer Duty: How firms should prepare for the 31 July deadline

'A discussion on what gaps exist would seem sensible'

Catriona McInally
clock 10 June 2024 • 4 min read
FCA should name firms that miss Consumer Duty report deadline

FCA should name firms that miss Consumer Duty report deadline

First Consumer Duty board report deadline is 31 July

Jenna Brown
clock 10 June 2024 • 2 min read