Understanding and Applying the Concept of Reasonableness in Consumer Conduct Regulation

What changes have been made with the Consumer Duty’s final rules since the FCA’s last consultation? And when are financial services firms expected to start implementing the regulation?

The Financial Conduct Authority (FCA) has published the final rules for its new Consumer Duty. The rules set a higher bar, building on the previous conduct-based initiatives that underpin its expectations – pushing compliance to higher levels, aimed at setting clearer and stronger requirements that firms deliver good outcomes for consumers.

In this latest episode, our regular host Irina Velkova is joined by our Head of Regulation, Alex Ellerton, Partner, asking key questions about the new Duty and what this means for firms across the industry.