Why firms should prepare for the Consumer Duty to be loosened

'The pressure to act is growing not just from industry, but from politicians too'

clock • 4 min read

All the signs point to a significant loosening of the Consumer Duty regime, writes Justin Cash

When the Consumer Duty was introduced in 2023, it was one of the most radical regulatory changes in years. It remains a central pillar of the Financial Conduct Authority's (FCA) strategy. No one in the City wants to move back to self-regulation. But there have certainly been misgivings - and confusion - about exactly where the rules start and end, and how to prove you've met them.  Now, all the signs point to a significant loosening of the regime that firms should be prepared for.  The FCA said in a September letter to chancellor Rachel Reeves that it would clarify its expectations...

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 Regulation

Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 09 March 2026 • 1 min read
Consumer Duty board reports: Everybody needs a friend – especially smaller firms

Consumer Duty board reports: Everybody needs a friend – especially smaller firms

'It is easier to turn a rowing boat than an oil tanker'

Alison Gay
clock 06 March 2026 • 4 min read
FCA replaces portfolio letters with 'succinct' priorities report

FCA replaces portfolio letters with 'succinct' priorities report

Sets out areas of focus by industry sector

Jenna Brown
clock 05 March 2026 • 2 min read