Why firms should prepare for the Consumer Duty to be loosened

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...