WebDec 7, 2024 · The Financial Conduct Authority has said it will press ahead with its proposed new consumer duty, with an implementation date of April 30, 2024. In a consultation paper published today (December 7 ...

The FCA’s new Consumer Duty - Bird & Bird

WebOct 26, 2024 · The hugely significant shift towards the FCA’s new Consumer Duty will culminate in its first deadline on Monday 31st October, when Implementation Plans needs to be ready for regulatory scrutiny. … WebThe Consumer Duty. In this article, we take a deep dive into the ‘fair value’ outcome of the Consumer Duty, including a look at how firms might evaluate and evidence this outcome, and the skills and resources needed to do so. Fair value is one of the four outcomes that the FCA is seeking through its Consumer Duty initiative and which it ... new shine llc

FCA Final rules and guidance: A new consumer duty

WebThe new principle, rules and guidance will sit within the High-Level Standards Principles (PRIN) sourcebook. The Consumer Principle will become Principle 12 with Principles 6 … WebAug 10, 2024 · On 27 July 2024, the FCA set out its final rules and guidance for a new Consumer Duty to be introduced into the FCA’s principles for businesses. This Consumer Duty aims to increase the current level of consumer protection in the retail financial services market by setting clearer and higher standards for the culture of firms and the … Web“The FCA’s Consumer Duty will lead to a major shift in financial services”.12 From an FCA press release: “FCA to introduce new Consumer Duty to drive a fundamental shift in industry mindset”.13 “We’ve been working to set a higher standard for firms, to put more of the onus on them to act in new shine massage