The FCA’s new Consumer Duty is fast approaching – which means your firm needs to act now.
Consumer Duty will ensure clearer and higher standards of consumer protection and overall experience, which may require a fundamental shift in behaviour. The legislation also calls for a cultural focus, through all levels of an organisation, that actively and consistently enables good customer outcomes, which should be measured and evidenced appropriately.
Consumer Duty presents an opportunity as well as a challenge – if embraced, embedding a customer-focused culture can boost productivity, reduce costs and differentiate your offering in the market.
Firms have just 5 months to complete a review of their open business and share necessary information with distributors. With only 3 months thereafter to become compliant, the faster firms complete their review and implement any quick wins, the better.
Don’t worry - we’re on hand to help you every step of the way.