Insight
Consumer Duty – Where Do We Start?
The FCA has put the new Consumer Duty proposals at the heart of its new three year strategy and business plan. It expects to finalise the new rules by end of July 2022 but has already indicated firms should begin preparations and it will be engaging with firms during H2 2022 on their implementation plans and progress.
In this article we explore the key aspects of the new duty, potential key challenges and where firms should start with planning and implementation.