WebMay 17, 2024 · 17 May 2024. The FCA first published a discussion paper on a duty of care in July 2024 – nearly two years on it is now consulting on introducing a new Consumer Duty. There is now to be a clear timeline for the introduction of the changes, with section 29 of the Financial Services Act 2024 requiring the FCA to make rules on this by 1 August … WebThe Consumer Duty is coming. The Financial Conduct Authority (FCA) has been proposing a new consumer duty for some time and the proposal was the subject of the …
What is the FCA
WebJan 12, 2024 · 2024 looks set to be a busy year for regulated firms dealing with retail customers. Following its initial consultation in May 2024, on 7 December 2024 the FCA … WebApr 7, 2024 · The FCA has allocated £5.3 million to overseeing the implementation of the Consumer Duty. While this is only 0.77% of the FCA’s total annual funding budget of £648.2 million, it is a significant amount to be allocated to a single initiative as compared to the other initiatives set out in the FCA’s budget. free images of sweets
What are the new Consumer Duty requirements? - KPMG Global
WebApr 13, 2024 · The FCA has published its findings following a review of the Consumer Duty implementation plans from around 60 of the largest firms who operate mainly in retail financial services markets. The FCA’s key findings are divided into “good practice” and “areas for improvement” which may be helpful for firms in implementing the Consumer … WebFeb 2, 2024 · The overarching “package of measures”. The FCA’s “package of measures” still comprises a 12th Principle for Businesses, three cross-cutting rules, and four consumer outcomes. The regulator has now landed on an obligation to “deliver good outcomes for retail customers” for both the new Principle for Businesses and a new individual ... Webproposals7 (hopefully this new consumer duty proposal is not front-running the still-pending 5 Prospectus Regulation, Articles 6.1 and 6.2. 6 See IMA [s most recent … free images of tamales