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Just over one in four adviser firms reported to having not started developing plans to achieve compliance ahead of the first Consumer Duty deadline, according to Moneyhub.
The U.K. Financial Conduct Authority has published its final rules and guidance for the new Consumer Duty, which is intended to establish clearer standards for consumer protection...
Welcome to Banking Bites! This is our short summary flagging key developments in the UK that we hope will inform your activities in your market.
With the introduction of the Consumer Duty and the Consumer Principle we will see a greater focus on consumer outcomes, where firms must actively assess and evidence how their actions and processes are working to deliver good outcomes for clients.