Last week, we looked at manufacturer's responsibilities under the products and services outcome of the Consumer Duty. But what does it mean for distributors?
Manufacturer Responsibilities - The Product and Services Outcome
The product and services outcome rules are broken down into those that apply to manufacturers and those for distributors. What are the implications for manufacturers?
The Products and Services Outcome
What must firms consider under the products and services outcome of the FCA’s new Consumer Duty?
Behavioural Biases and the Consumer Duty
Last week, we looked at how behavioural biases might affect consumers’ financial decision making, but how should these biases be considered by brokers in relation to the new Consumer Duty?
Financial Soundness For Non-Senior Managers
A recent Employment Appeal Tribunal hearing raises the question of whether it may be reasonable to expect all non-ancillary employees to disclose significant financial changes.
Financial Decision Making: What is Behavioural Bias?
The new Consumer Principle requires firms to ‘act to deliver good outcomes for retail customers’ but what in-built behavioural biases might they face when trying to achieve this?
Supporting Consumers Through Financial Difficulties
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?