FCA Publishes Dear CEO Letters on Consumer Duty

03 February 2023

FCA Publishes Dear CEO Letters on Consumer Duty

The FCA has published ‘Dear CEO’ letters regarding the transitioned implementation of Consumer Duty, each targeting eight different sectors, including retail banks and general insurance firms, with others to be addressed ‘shortly’.

They set forth the FCA’s:

Commitment to supporting firms in their implementation of Consumer Duty programmes,
Expectations for firms in taking an ‘outcomes-focused approach to consumer protection’,
Examples of good and poor practice when implementing the Duty,
Proposed implementation timelines applicable to firms.

Firms should take any relevant letters into consideration as they prepare to implement the Duty into their operations.

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FCA Publishes Dear CEO Letters on Consumer Duty

03 February 2023

FCA Publishes Dear CEO Letters on Consumer Duty

The FCA has published ‘Dear CEO’ letters regarding the transitioned implementation of Consumer Duty, each targeting eight different sectors, including retail banks and general insurance firms, with others to be addressed ‘shortly’.

Speak to us to request a demonstration

Plenitude are Financial Crime, Risk and Compliance specialists, offering advisory, transformation services and innovative cloud-based RegTech subscription products.

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