The FCA’s new Consumer Duty – Is your firm ready?

28th February 2023

The FCA is setting higher standards for regulated firms to put consumer needs first, with the introduction of the new ‘consumer duty’. The Duty is a package of measures aimed at increasing the level of consumer protection in retail financial markets.

On 27th July 2022 the FCA published its final rules and guidance on the Duty but there is still time for firms to which the Duty applies to get ready for its implementation, with the next key deadline being 30 April 2023.

Lightfoots Solicitors has published a new guide ‘The FCA’s new Consumer Duty – Is your firm ready?’ which provides an overview of:
• the new rules
• implications for regulated firms
• key practical considerations to help firms comply with the Duty
• how Lightfoots Solicitors can help

This guidance is not exhaustive and is not intended to be relied upon in isolation as the Duty is new, and therefore is untried, untested, and yet to be fully enforced by the FCA. However, with the help of our legal expertise we can continue to assist you in navigating the FCA’s rules and requirements and the more specific implications of the new Duty for your firm.

Click here to view the full report, we hope you find it useful.