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 consumer understanding outcome
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Also tagged characteristics of vulnerability, consumer duty, consumer outcomes, CP21/36, customer outcomes, FCA, 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 CP21/36 – and particularly the draft guidance document at the […]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 characteristics of vulnerability, consumer duty, consumer outcomes, Consumer Principle, 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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