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Consumer Duty

Raising the bar for consumer protection

 

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By delivering better consumer outcomes, we will all benefit. Higher standards and healthier competition will improve trust, support growth and innovation, and in turn improve the UK’s standing on a global stage. Enhancing consumer trust and inward investment are huge potential benefits for us to realise...

FCA

Welcome to KPMG’s dedicated hub on the UK’s FCA Consumer Duty

Whilst the initial implementation date has passed, activity on consumer duty continues unabated. Many are still finalising their drive to achieve full compliance on their open products. Others are addressing the specific and unique challenges with the impending closed product deadline. Some are now undertaking new BAU activity to fully embed the Duty across the entire firm and starting to explore the new commercial opportunities that the Duty presents. FCA is being proactive in its supervision of the Duty and therefore it is likely to shape firm’s priorities in the short, medium and long-term.

Consumer Duty Vlog Philip Deeks

Philip Deeks explores the main focus areas for firms as they continue their Consumer Duty journey.

Meet Jane Wilson, our Director of Risk & Regulation

Explore how we developed a tool that can read documents in minutes, not hours.

Explore our articles

Ongoing advice charges

Meeting the FCA's expectations

Consumer Duty Board Report

How to build a successful Consumer Duty annual assessment report

Consumer Duty — With Profits: the focus on the next deadline

The additional considerations for firms implementing the Duty for its With-Profits business

Consumer Duty - a look ahead to 2024 and beyond

Philip Deeks explores the main focus areas for firms as they continue their Consumer Duty journey

Creating and sustaining the Consumer Duty Cultural Shift

How embedded is Consumer Duty in your cultural footprint?

Arrears and collections: delivering good customer outcomes

How firms can address the arrears and collections challenges surrounding the rise in consumers in financial difficulty

Consumer Duty: From 'Duty' to 'Centricity'

Firms can use Consumer Duty foundations to unlock sustainable, customer-led growth.

Consumer Duty — keeping an open mind on closed products

Firms will need to think differently to successfully implement the Consumer Duty for closed products

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Raising the bar for consumer protection
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Culture and the Consumer Duty

Creating the right conditions to thrive.

Customer first

How communications and marketing teams should approach the Consumer Duty rules.

What does ‘substantive compliance’ really mean?

On Consumer Duty, how can firms get comfortable that they are meeting FCA’s Day One expectations?

Consumer Duty: separating today from 'Day 2'

Creating clarity about what day 2 plans need to include — and in what order

FCA GI pricing attestation review

FCA findings from its General Insurance (GI) pricing attestation review reveals its broader expectations on Consumer Duty

SDR policy statement and final rules

A significant challenge for fund managers

Fair value

The way forward in 2024 and beyond

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Providing pragmatic and insightful intelligence on regulatory developments.
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