Another lang cat special on the podcat this week, as we get down into the detail of the Consumer Duty.

In this episode, our in-house policy and regulatory experts Tom and Mike talk through some of the key issues from the 200-odd pages of the FCA’s Consumer Duty policy statement and final guidance.

This is the big one in financial services terms – Mike even goes so far as describing it as an “actual regulatory page turner”. That might be pushing it a bit, but it’s clear that whatever your type of firm, there’s a lot to be getting on with.

They discuss the question of foreseeable harm, and how the Consumer Duty rules interact with suitability, platform due diligence and selection and the Senior Managers and Certification Regime (SM&CR).

Tom and Mike examine proportionality (the latest regulatory buzzword) and what it means, and highlight the examples of poor practice the FCA has explicitly called out.

Among other things, they also chat through platforms’ responsibilities around target market, the increasing importance of the Financial Ombudsman Service for advisers, and what firms should do next.

You'll find this episode and our back catalogue wherever you normally get your podcasts, including Apple Podcasts, Spotify, Google and more. You can also catch them here in Analyser.

And if we can help you further get to grips with Consumer Duty, give us a call.

Thanks for listening.

the lang cat