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 on the UK's FCA Consumer Duty.

The FCA's Consumer Duty will 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 should not be under-estimated in terms of its regulatory intentions — and consequences for firms.

The FCA is driving culture and conduct changes in firms by placing an expectation that a firm's approach to deliver good outcomes is embedded across the entire customer journey, and within each of its relevant departments — and crucially that firms can evidence it. Consumer Duty is the intended destination of the FCA's journey to outcomes-based regulation.

Consumer duty pyramid illustration


The road to implementation

Implementation timeline


This hub covers detail on the Consumer Duty initiative, the drivers behind it and how the FCA is approaching it, together with practical insights on the implementation impacts and implications for firms from these heightened expectations.




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