Ecclesiastical survey finds half of brokers aren’t aware of FCA’s Consumer Duty rules
A survey of 250 brokers has found that only just over half (53%) are aware of the FCA’s new Consumer Duty rules. This raises concerns that a significant number of brokers are behind schedule with plans to implement them, Insurance Age can reveal.
The survey from specialist insurer Ecclesiastical also found that three in five brokers admit they don’t understand how the regulations will impact their business.
Good outcomesThe findings come just weeks after the FCA’s deadline to agree implementation plans (31 October) for one of the biggest regulatory shifts in the financial services industry in recent years.
Related FCA confirms 12-month implementation for Consumer DutyThe 12-month implementation period for its new
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