WebThe Duty is a higher standard of expectations for how firms should treat customers to better protect them from new and emerging drivers of harm and gives firms more certainty around the FCA’S expectations to support innovation, competition and to better serve customers. The work on the Consumer Duty publication predates the cost-of-living ... WebJul 27, 2024 · Update: 7 December 2024. On 7 December 2024, we published a further consultation ( CP21/36) on a new Consumer Duty, including feedback to CP21/13. Watch our on-demand webinar to hear more about the proposals. 1. Introduction. We want to see a higher level of consumer protection in retail financial markets, where firms are …
FCA Final rules and guidance: A new consumer duty Linklaters
WebAug 13, 2024 · The SM&CR introduced an annual Conduct Rules reporting requirement. The report is called REP008 and it should be completed and submitted using RegData. Firms need to report whether they have taken disciplinary action against individuals who are not Senior Managers for breaches of the Conduct Rules and, if so, the details of the … elainefromtrivia
New FCA Consumer Duty rules - Converge
WebMar 30, 2024 · The Financial Conduct Authority (FCA)’s new Consumer Duty rules will place higher expectations on the standard of care that firms provide to consumers. Designed to ensure a higher level of consumer protection in retail financial markets, the new rules are about putting customers’ needs first. WebAug 14, 2024 · The Financial Conduct Authority (FCA) has now published its final rules and guidance on its new Consumer Duty (PS22/9 and FG22/5). The Consumer Duty is designed to fundamentally shift the mindset of firms in how they deliver for consumers. The implementation of the Consumer Duty is a flagship initiative for the FCA, setting out its … WebMeaning of retail customer. COCON 2.4.3 R 31/07/2024. (1) 1. This rule describes how the definition of retail customer applies for the purposes of Rule 6. (2) A retail customer … elaine from match 75