With the rising cost of living putting pressure on many consumers, how can firms ensure they are doing enough to provide their clients with appropriate support and care?
Not Everyone Can Be Protected from All Harm
Over the last two weeks, we have explored the concept of ‘harm’ under the Consumer Duty and what practical solutions can be implemented to ‘avoid causing foreseeable harm’ but to what extent are firms expected to protect their customers?
How Can a Firm Avoid Causing Foreseeable Harm?
Under the cross-cutting rules of the FCA’s new Consumer Duty, firms should seek to avoid causing foreseeable harm at all stages of the customer journey. What practical action can they take to achieve this?
What is Foreseeable Harm?
To ‘avoid causing foreseeable harm to retail customers’ is the second of three cross-cutting rules under the FCA’s new Consumer Duty. What is ‘harm’, and how might a firm knowingly or unknowingly, cause harm to their customers?
The Truth Will Out – The Importance of Regulatory References
A recent Supreme Court hearing has highlighted the importance of properly verifying a candidate’s qualifications and suitability for a post. Are you aware of the requirements for regulatory referencing under SM&CR?
What Does It Mean To ‘Act In Good Faith’?
To “act in good faith towards retail customers” is one of three cross-cutting rules under the FCA’s new Consumer Duty but what does it really mean for firms?
Cyber Insurance – Lloyd’s of London Bulletin calls for exclusions in policy wordings
A recent Lloyd’s of London bulletin has set out requirements to exclude state-backed cyber-attacks from standalone cyber insurance policies. What impact does this have for firms, and why is it important, now more than ever, to have cyber insurance coverage?
Consumer Duty – The Cross-Cutting Rules
The FCA’s new Consumer Duty introduced three cross-cutting rules. How do they interact with the other elements of the Duty?