The FCA has today published the final rules and guidance for the new Consumer Duty.
Hannah Gurga, ABI Director General, says:
“Supporting customers and helping them to understand the products they’re purchasing is our members’ priority. We welcome the introduction of the Consumer Duty, which will continue to build on the work and good practice already undertaken by insurers and long-term savings providers in this highly-regulated area. We are particularly pleased that the FCA has listened to the suggestion to extend the implementation as this will enable firms to roll out the changes in a way that supports consumers more effectively. We’ll review the policy statement in close detail and will continue to work with the FCA and our members on this important matter.”
Further information: