Progress and pitfalls: Addressing Consumer Duty's first pillar

Empowering consumers in the marketplace

clock • 3 min read

Stephen Mitchell explores Consumer Duty's first pillar, focused on products and services, and explains how advisers can overcome potential pitfalls when addressing their responsibilities

In an era marked by rapid advancements and changes in consumer expectations, the need for a comprehensive framework that balances consumer rights and economic growth has taken centre stage. The introduction of the Consumer Duty represents a significant stride in this direction, bringing about a paradigm shift in how consumers are protected and empowered. With its recent implementation at the end of July this year, the Consumer Duty's first pillar, focused on products and services, has gained prominence for its potential to reshape the consumer landscape; yet there are still pitfalls...

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