CONSUMER DUTY

Financial Conduct Authority CONSUMER DUTY SUPPORT

The Financial Conduct Authority (FCA) has announced that it intends to implement a new Consumer Duty that would significantly enhance how businesses interact with customers. It would establish stricter guidelines for consumer protection across all financial services and mandate that businesses put the needs of their clients first.

The Duty consists of new principles and requirements that businesses must abide by. It will imply that customers should receive messages in a language they can comprehend, goods and services that satisfy their demands and are reasonably priced, and the customer support they require at the time of need.