We want to see a higher level of consumer protection in retail financial markets, where firms are competing vigorously in the interests of consumers


Welcome to KPMG's dedicated hub for developments on the UK's FCA's Consumer Duty.

The FCA's Consumer Duty is designed to increase the current level of consumer protection in the retail financial services market. With it, the FCA has signalled a "paradigm shift in its expectations" and therefore the impact of the initiative cannot be under-estimated in terms of its regulatory intentions.

The FCA is trying to drive culture and conduct changes in firms by placing an expectation that a firm's approach is embedded across the entire customer journey, and within each of its relevant parts. It signals an intended destination of the FCA's journey to outcomes-based regulation.

Consumer duty pyramid illustration


The road to implementation

Consumer duty circles illustration

Initial consultation paper published

Deadline for responses to CP21/13

    Second detailed


Deadline for
responses to

Final rules
expected to be

Proposed implementation date (subject to consultation)


This hub will cover detail on the FCA proposals together with practical insights on the implications for firms from these heightened expectations as well as how firms are developing their programmes to respond. To maximise the impact of this hub, we will include insights from differing perspectives — both topic as well as sector specific.