Firms to be monitored on progress preparing for April 2023 Consumer Duty
By Neasa MacErlean
The FCA is planning a 16-month preparation period for the
new Consumer Duty that will be placed on firms. Recognising that some firms will have significant back books and “hundreds of product lines
to review”, the regulator is “keen to work closely” with the sector, will monitor individual firms and is considering “how
we can give more regular updates on what we are seeing and our views of it”.
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