Page 11 - Consumer Principle News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The FCA is proposing to set higher expectations for firms operating in retail markets. On 14 May 2021, the FCA published a Consultation Paper (CP21/13) on introducing a new Consumer Duty. This consultation is intended to fulfil the FCA’s new statutory obligation to consult on whether or not to introduce a duty of care in financial services. Rather than a standalone duty, the FCA is consulting on a package of measures, including a Consumer Principle and supporting rules and guidance (referred to collectively as the Consumer Duty). While some may consider that the proposed new Principle would...

The FCA first published a discussion paper on a duty of care in July 2018 – nearly two years on it is now consulting on introducing a new Consumer Duty. There is now to be a clear...

Search UK FCA Shares Plans for New Consumer Duty, Will Aim to Offer Greater Consumer Protection for Retail Financial Markets The UK’s Financial Conduct Authority (FCA) has shared plans for a new Consumer Duty, which will aim to provide a greater level of consumer protection for retail financial markets for companies to follow. UK companies are currently required to adhere to FCA guidelines and various requirements to  treat clients fairly and many local businesses have reportedly been delivering the appropriate outcomes for consumers, such as quality products and services at reasonable p...