Support given by firms can enable consumers to make the most of the products and services they buy – realise the value and benefits, allowing consumers to pursue their financial objectives and ensure they can act in their own interests. CP21/36, A new Consumer Duty: feedback to CP21/13 and further consultation (issued on 7 December […]
Tag Archives: characteristics of vulnerability
The Consumer Duty – the consumer support outcome
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Also tagged consumer duty, consumer outcomes, consumer support outcome, CP21/36, customer outcomes, FCA, protected characteristics, vulnerable circumstances
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The Consumer Duty – the consumer understanding outcome
The proposed consumer understanding outcome rules might appear, on the face of them, to be less significant than the other consumer outcome rules. However, the FCA is clear in CP21/36, A new Consumer Duty: feedback to CP21/13 and further consultation (issued on 7 December 2021), that consumers can only be expected to take responsibility for […]
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The Consumer Duty – the price and value outcome
The underlying premiss of the price and value outcome rules is that that the price of products and services must be proportionate to their value. Customers should be confident that the firm they deal with (and each other firm in the value chain) has taken steps to ensure that the product or service represents fair […]
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Also tagged consumer duty, consumer outcomes, CP21/36, customer outcomes, FCA, price and value outcome, protected characteristics, vulnerable circumstances
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The Consumer Duty – the products and services outcome
The draft products and services outcome rules set out in CP21/36, A new Consumer Duty: feedback to CP21/13 and further consultation, issued on 7 December 2021, appear to cover familiar ground. The Financial Conduct Authority refers to the rules providing a range of requirements, including the need for firms to: Ensure that the design of […]
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Also tagged consumer duty, consumer outcomes, CP21/36, customer outcomes, FCA, products and services outcome, protected characteristics, vulnerable circumstances
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The new Consumer Duty – an overview
A “significant change and a unique regulatory intervention” is how the Financial Conduct Authority describes its proposals for the new Consumer Duty in CP21/36, A new Consumer Duty: feedback to CP21/13 and further consultation, issued on 7 December 2021. That is almost certainly an understatement. CP21/36 – and particularly the draft guidance document at the […]
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Also tagged consumer duty, consumer outcomes, Consumer Principle, consumer understanding outcome, CP21/36, cross-cutting rules, customer outcomes, customer support outcome, FCA, outcome rules, price and value outcome, products and services outcome, vulnerable circumstances
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