Research
01 Aug 2022
Episode 34: The New Consumer Duty – raising consumer standards of care
Regulated Radio podcasts
The Financial Conduct Authority has published its final rules for its new Consumer Duty. The Duty raises the standards of consumer protection in retail financial markets. With the introduction of a new Consumer Principle, and a set of cross-cutting rules and outcomes that support it, firms now face a significant task to meet these raised standards of consumer care. In this episode, Deloitte's regulatory, financial services and legal experts David Strachan, David Clements and Jake Ghanty share their quick take on the Duty and how they think it will shape the UK financial services sector, with guest host Joy Kershaw.
Key questions:
- What is the New Consumer Duty and what does it mean for financial services firms?
- What has changed since the FCA’s last consultation?
- When will the Duty be implemented and what should firms do now?
- What are the key priority areas for firms to implement the Duty successfully?
- To learn more about the Consumer Duty and the impact for firms, register for our upcoming webinar here.
- You can also find our blog post about the FCA’s finalised rules here.
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