WebJul 27, 2024 · PS22/9: A new Consumer Duty. We set out the final rules and guidance for a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first. We also respond to feedback to CP21/36.
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WebSession 3: Consumer Duty Cross-Cutting Rules. Amplifying the Consumer Principle; Three rules: Firms must act in good faith towards retail customers. Firms must avoid foreseeable harm to retail customers. Firms must enable and support retail customers to pursue their financial objectives. Defining and understanding regulatory expectation WebSep 1, 2024 · Consumer Duty will be embedded into FCA assessment criteria for fixed/portfolio firm supervision models. FCA will challenge firms to demonstrate they … WebWhat is the Consumer Duty? The Consumer Duty is a very significant piece of regulation that sets higher expectations for the standard of care firms across the financial services industry give to consumers in retail financial markets. It aims to ensure that existing best practice around good outcomes for consumers is applied consistently across ... feit electric company ca