In our latest podcat episode, Tom talks to PIMFA's Simon Harrington and the lang cat's own Mike Barrett about the FCA's plans to bring in a new Consumer Duty.

Simon and Mike have done the heavy lifting of wading through the 240-odd pages of the regulator's latest Consumer Duty consultation paper, and so are well-placed to talk through what the Consumer Duty is, why the FCA is introducing it, and the Bill and Ted philosophy that sits behind the regulation (yes, you read that right).

They discuss the positives behind the rules, including the ongoing journey to make advice seen as a profession, and the less positive, such as whether this is a simply another supervisory weapon in the FCA's armoury which will place a greater compliance burden on firms.

They also chat through who will be affected by the new rules, and how implementation might look a lot like what we saw with the introduction of PROD.

We hope you enjoy listening - if you do, leave us a review wherever you get your podcasts.

For more from Mike on what the Consumer Duty means for advice firms, check out his recent Platform Analyser article Consumer Duty: How the FCA is beefing up consumer protection