FCA outlines Consumer Duty support
08 February 2023
The FCA is directly setting out expectations of the upcoming Consumer Duty in letters to firms – and those providing motor finance will receive their letters very shortly. It is also planning a series of regional in-person events and sector-based webinars.
“Leaders have a key role to play here,” said FCA executive director Sheldon Mills. “We want to see boards and senior management further embed the interests of customers into their firms’ culture and purpose.”
The FCA says one benefit of the Duty for firms will be that it becomes a “simplified and less reactive form of regulator” so companies can innovate and compete more effectively.
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