Boring Money's Holly Mackay: Consumer Duty's next big challenge three years in

When the new Consumer Duty rolled out on 31 July 2023, no one quite knew what to expect. The principles-based regulation had a focus on things which felt difficult to quantify for a rules-based industry used to tick lists and regulatory templates. If we look at levels of confusion, asset managers initially floundered the most. Evidencing good customer outcomes when the vast intermediated majority knew little more than the platforms to which they sold was a tough gig. Peeling back the onion yet another layer and assessing vulnerable customers was even harder, let along knowing what ...