FCA's Consumer Duty update is a ‘warning against complacency’ as firms fall behind
The Financial Conduct Authority has warned firms risk falling behind as the deadline for Consumer Duty looms.
The regulator’s update today revealed it had scrutinised a number of firms in their preparation for the 31 July deadline.
Many firms understand good outcomes and have built complementary programmes, the FCA reported.
However, the regulator stressed it believes some firms are so far behind the curve they risk failing to implement Consumer Duty properly by the deadline.
Related FCA confirms 12-month implementation for Consumer Duty Biba vows to fight for brokers in FCA meetingOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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