Consumer Duty - Q4 2022
IndustriesFinancial servicesRegulatory InsightsFS regulatory affairs newsletter - Q4 2022
Consumer Duty - Q4 2022
The Consumer Duty implementation period is well underway with the 31 July 2023 deadline merely six months away.
There is now a huge amount of pressure on firms to ensure that the latest iteration of their implementation plan fully captures the necessary work to achieve compliance. It is also critical that the board and senior management are engaged and monitoring progress towards key milestones.
As we approach the 30 April 2023 milestone for product manufacturers, our article highlights the key areas firms must focus on over the coming months.
For a more comprehensive review on this topic, please click on the pdf below:
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FS regulatory affairs newsletter - Q4 2022
Following on from our Q3 2022 edition of the FS regulatory affairs newsletter, this edition covers regulatory developments in the fourth quarter of 2022.
Consumer Duty - Q3 2022
The FCA’s final rules on the upcoming Consumer Duty have been well-publicised and there is a lot of material to get to grips with for compliance by 31 July 2023. Key focus areas in this article are around resourcing, governance and oversight, and data.
Consumer Duty
The FCA’s Consumer Duty sets a higher standard of care that firms should provide to consumers in retail financial markets. The rules came into force on 31 July 2023 for new and existing products and services. The next key milestone is 31 July 2024 for closed products. The Duty is expected to have far-reaching implications across financial services, with the FCA set to supervise against it. For some...