Consumer Duty

Whilst the initial implementation date has passed, activity on consumer duty continues unabated. Many are still finalising their drive to achieve full compliance on their open products. Others are addressing the specific and unique challenges with the impending closed product deadline. Some are now undertaking new BAU activity to fully embed the Duty across the entire firm and starting to explore the new commercial opportunities that the Duty presents. FCA is being proactive in its supervision of the Duty and therefore it is likely to shape firm’s priorities in the short, medium and long-term.