The deadline for the FCA consumer duty is looming, July 31st and there is plenty to do. This is a summary of the original guidance from the FCA, containing the rules for compliance. You can access the full document below.
https://www.fca.org.uk/publication/finalised-guidance/fg22-5.pdf
Summary
This provides guidance for firms on complying with the Consumer Duty, emphasizing the importance of consumer support, designing products and services for the target market, and avoiding unreasonable barriers.
It covers key considerations such as identifying the target market, addressing the needs of vulnerable customers, providing clear information, and acting in good faith to enable customers to pursue their financial objectives.
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Consumer Duty - UK Management Training
Key Summary Points
Firms must provide consumer support throughout the customer journey.
Products and services should be designed to meet the needs of the identified target market.
Regular revi...
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