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<p><span>The Financial Conduct Authority (FCA) has confirmed its plans to bring in a new Consumer Duty, which will fundamentally improve how firms serve consumers. It will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first.</span></p>
The Financial Conduct Authority (FCA) is allowing firms 12 months until 31 July 2023 to implement its new Consumer Duty rules for all new and existing products and services that are currently on sale.
The Financial Conduct Authority (FCA) has sent a letter to later life mortgage providers expressing concern about older borrowers being more at risk of purchasing unsuitable equity release products or lifetime mortgage products due to the cost of living crisis. In the letter, the FCA co-director, consumer and retail
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By far the hottest topic in UK financial services regulation right now is the Consumer Duty, with the final rules and policy statement due to be published by the end of July.