The FCA has added to its published information relating to Consumer Duty to help firms with implementation.
The most recent addition to the Consumer Duty webpages is an information for firms page to help firms implement the Duty. This explains more on the areas of the Duty that firms have been raising queries on. It currently covers:
- October implementation plans
- Consumer Duty Board Champions
- Definition of closed products
The FCA has committed to keeping these pages updated so firms should review the site regularly over the coming weeks and months.
Suitability Reports: Who is Fred?
David Anderson Suitability complaints, Pension, PI, Update
There is an old joke about a man going to his dentist, picking up a magazine in the waiting room and reading that the Titanic had sunk. This reference to how out of date dentists’ reading material can be is unfortunately not merely a mildly amusing joke or restricted to dentists.