“This latest consultation has the potential to be transformational for the industry and consumers. It moves proposals for targeted support (TS) from high-level considerations to detailed rules and guidance. If these rules are finalised as expected, firms will be able to help customers more proactively with their financial choices which will lead to better outcomes.
"Firms can start work now to prepare, including working through the fundamental building blocks of the proposed regime and strategically considering how new possibilities under TS fit into their strategy, business model, and purpose – and how they can ensure that conduct considerations are built in from the outset. There are also a variety of risks that firms will need to address and consider, for example what ‘better outcomes’ means in practice will require careful judgement.”
-ENDS-
For media enquiries, please contact:
Gerard Swinley, Corporate Communications
Tel:+44 (0) 20 3078 3948
Mob: +44 (0) 7510 375540
Email: gerard.swinley@kpmg.co.uk
KPMG Press Office
Tel: +44 (0) 207 694 8773
Notes to Editors:
About KPMG
KPMG LLP, a UK limited liability partnership, operates across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.99 billion in the year ended 30 September 2024.
KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.