FCA warning
to firms getting ready for Consumer Duty rules, according to Finextra. About a one minute read.
Comment: this is significant and I’m hearing rumours firms are embarking on hiring biggest to insure compliance, as FCA has made it clear no extensions will be entertained.
The FCA’s Consumer Duty will lead to a major shift in financial services
The Financial Conduct Authority (FCA) has confirmed its plans to bring in a new Consumer Duty, which will fundamentally improve how firms serve consumers. It will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first.
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