The FCA has published its final rules and guidance aimed at strengthening protections for borrowers in financial difficulty, incorporating aspects of the Tailored Support Guidance (TSG).
Shelley Read, Senior Intermediary Development and Technical Manager at Royal London, considers where advisers can find the protection opportunities within the Consumer Duty. A colleague shared a Thomas Edison quote a few weeks ago, which I think sums up perfectly my thoughts on Consumer Duty in the adviser market:
The Consumer Duty is a new regulatory framework that will change the way financial services firms interact with their customers. It will focus on helping customers achieve good outcomes, rather than simply being compliant with the rules.
Shelley Read, Senior Intermediary Development and Technical Manager at Royal London, considers where advisers can find the protection opportunities within the Consumer Duty. A colleague shared a Thomas Edison quote a few weeks ago, which I think sums up perfectly my thoughts on Consumer Duty in the adviser market: