WebAug 19, 2024 · The Consumer Duty will apply to all new products and services, and all existing products and services that remain on sale or open for renewal. End of July 2024: … WebCOCON 2.4.6 R 31/07/2024. (1) 1. You must act in good faith towards retail customers. (2) Acting in good faith is a standard of conduct characterised by honesty, fair and …
PRIN 2.1 The Principles - FCA Handbook
WebApr 13, 2024 · The FCA's Consumer Duty principle requires companies to: Support consumer understanding by ensuring that their communications meet the information needs of retail customers. Ensure communication ... WebThe Consumer Duty. In this article, we take a deep dive into the ‘fair value’ outcome of the Consumer Duty, including a look at how firms might evaluate and evidence this outcome, and the skills and resources needed to do so. Fair value is one of the four outcomes that the FCA is seeking through its Consumer Duty initiative and which it ... flood insurance provider view floodsmart
The FCA Consumer Duty: Empowering Consumers Study Academy
WebJan 4, 2024 · This came in the form of the much-discussed FCA Consumer Duty Principle, with the power to impact the financial services industry at large. This was triggered by … WebOur New Consumer Duty will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first. ... FCA Warning List . Find our most up-to-date warnings of firms and individuals running scams … WebJul 20, 2024 · Principles of good regulation. 1. Efficiency and economy. We are committed to using our resources in the most efficient and economical way. As part of this the Treasury can commission value-for-money reviews of our operations. 2. Proportionality. We must ensure that any burden or restriction that we impose on a person, firm or activity is ... great mens leather belts