opinion

FCA released two reports to mark the third birthday of Consumer Duty

Third anniversary of landmark regulation on 31 July

'It has not bedded in quietly'

'Permanent, cultural shift within firms'

'We shouldn't solve one problem by creating another'

'September is a starting point, not the finish line'

'There are still some firms that are treating Consumer Duty as a rigid one-off annual exercise'

'Co-manufacturing is not a product decision. It is a relationship decision'

Three assumptions keeping the protection gap alive

'Regular reviews will still play an important role, but clients' lives do not follow a servicing calendar'