UK FCA Clarifies Expectations On The Consumer Duty

The UK Financial Conduct Authority (FCA) has published a new webpage about the consumer duty. The webpage explains how the consumer principle is underpinned by three cross-cutting rules requiring firms to act in good faith, avoid foreseeable harm and support customers to pursue their financial objectives. The FCA reiterates the four core outcomes it expects firms to deliver, relating to the governance of products and services, price and value, consumer understanding and consumer support and... By: A&O Shearman