Data-driven or anecdotal? Examining FCA Consumer Duty board reports

The regulator's recent good and poor practice review of Consumer Duty board reports is clear on one point: narrative without evidence is no longer sufficient. Boards are expected to demonstrate, with structured and reliable data, how they are monitoring outcomes, identifying risk and acting where standards fall short. Alongside this, the soon-to-be-published Consumer Duty Alliance's (CDA) Consumer Duty Data Forum's guide, How to Manage and Report Your Data, reinforces the same message. Data is not a by-product of systems; it is a core governance asset. The common thread between the...