WebApr 12, 2024 · What is the Consumer Duty? It's a new set of rules developed by the FCA designed to set a higher standard of care for consumers. Essentially, it's an outcomes-based approach that will help us prove to you – the client – that what we are doing is working. Tighter rules and regulations can often be a source of annoyance and create additional ... WebFCA has published its final rules and guidance for a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and …
Firms to have until April 2024 to implement FCA
WebApr 13, 2024 · The new Consumer Duty. Most in the industry will be aware of the FCA’s new Consumer Duty. It aims to raise the bar in terms of consumer treatment and … WebDec 7, 2024 · New plans from the Financial Conduct Authority will ensure a higher and more consistent standard of consumer protection for users of financial services and help to stop harm before it happens. The FCA is concerned that currently financial services do not always work well for consumers. The new plans will fundamentally shift the mindset of … bank guarantee period
Consumer Duty AXA Connect
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 … WebAug 3, 2024 · As well as cementing plans for the new Consumer Duty, the FCA has extended the deadline for implementation from April 2024 to July 2024 – and July 2024 for closed-book products. The FCA’s new plans signal a sea-change in focus for financial institutions and regulators alike. Financial services – once rife with malpractice – have … WebOct 31, 2024 · The first deadline in the FCA’s Consumer Duty implementation timeline has long since passed and the next is fast approaching. Firms should be turning their … bank guarantee plural