WebOur Consumer Duty will set higher and clearer standards of consumer protection across financial services ... Get in touch by phone, via our online form, or by post: Financial Conduct Authority 12 Endeavour Square London E20 1JN ... Explaining the Consumer … Webthis episode I'll be speaking to FCA Consumer Policy Manager, Richard Wilson about the consumer understanding outcome in the new Consumer Duty. The FCA wants firm communications to support and enable consumers to make informed decisions about financial products and services. So I'll be asking Richard what is expected from firms …
FCA – a new Consumer Duty - cms.law
WebThe Financial Conduct Authority (FCA) is the regulatory body responsible for overseeing financial markets and firms in the United Kingdom. As part of its ongoing efforts to protect consumers and ensure fair treatment, the FCA introduced the Consumer Duty, a set of principles designed to empower consumers in the realm of financial services. WebMay 16, 2024 · The FCA’s proposals for the new Consumer Duty (“the Duty”) are far reaching and represent a “paradigm shift” in the FCA’s expectations of firms. For retail … fire protection to beams
The FCA Consumer Duty: Empowering Consumers Study Academy
WebFeb 2, 2024 · The FCA will undertake thematic / multi-firm work once the Consumer Duty has come into force, to see how it is operating in practice. These exercises often result in referrals to the FCA’s enforcement division in those cases where the FCA identifies significant shortcomings. WebMar 8, 2024 · Financial promotions: In relation to the consumer understanding outcome under the Consumer Duty, the FCA reminds firms of its May 2024 Dear CEO letter to credit brokers and firms providing high-cost lending products highlighting the most commonly breached financial promotions rules and its requirements under CONC. WebHowever, the FCA warns firms against inadequate disclosure of risk. Ensuring customers understand risks is seen by the FCA as an important element of the Consumer Duty. The FCA is also clear that its rules and guidance require firms to consider consumers’ limited experience and behavioural biases at all stages of the product lifecycle. ethiopia women images