This week the Financial Conduct Authority (FCA) published the final rules and guidance for its landmark Consumer Duty.
The rules promise to trigger a major shift in how the financial services industry operates, setting higher and clearer standards of consumer protection and requiring firms to put their customers’ needs first.
Here is Health & Protection’s coverage of the biggest change to hit the financial services industry since the retail distribution review (RDR).
FCA gives firms three-month extension to implement Consumer Duty
Consumer Duty does not ban loaded premiums but FCA may review issue
Müdd: Pressure on insurers and advisers to show ‘fair value’ of loaded premiums
Group risk, health insurance and employee benefits not covered by Consumer Duty
FCA rejects calls to mandate signposting for declined insurance applicants
Advisers must tell FCA if they see other firms not meeting Consumer Duty
FCA toughens senior manager oversight of Consumer Duty and plans implementation review
Consumer Duty no more challenging for advisers than any other rules – Mills
