Analysis: Will firms be up to speed in time for the FCA’s new regulations on consumer duty and protection?
The Financial Conduct Authority’s new four-outcome consumer duty rules set higher and clearer standards of protection across financial services and requires firms to put their customers’ needs first. However, as Frances Stebbing discovers, the transition may be far from smooth, especially for SMEs.
By 31 October, boards, or equivalent management bodies, of insurance firms, should have agreed their implementation plans, and be able to show evidence that they are deliverable and robust enough to
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