James Edmonds shares his Consumer Duty checklist and says a wide-ranging and well-governed plan to tackle the issues will stand businesses in good stead
James Edmonds shares his Consumer Duty checklist and says a wide-ranging and well-governed plan to tackle the issues will stand businesses in good stead
Any measures you can enforce to get in front of problems before they arise lessens both your compliance risk and the chance of negative outcomes for consumers – meaning all parties benefit from a forward-thinking approach to the FCA's Consumer Duty.
Firms should be busy preparing for the Consumer Duty, one of the most significant changes in regulation over the last decade. Businesses may be hoping for some clear-cut clarity on expectations in July 2022’s publication, but the FCA is looking to provide flexibility through an outcomes-based approach.