The Financial Conduct Authority (FCA) are introducing a new set of rules to further protect consumers in the financial industry. These are due to be implemented from July 2022. The FCA have set out clear standards for how firms will need to consistently focus on consumer outcomes.
These three elements show how the new Consumer Duty is structured, it moves the overarching regulatory framework from a ‘principles’ based approach to a ‘rules’ based approach.
Firms must act to deliver good outcomes for customers
We have a suite of support to help you in preparation for the new rules coming in to force.
Target market documents