FCA publishes Consumer Duty policy statement

Following two consultation periods, the much-awaited policy statement and finalised guidance on Consumer Duty has today been published by the FCA. The regulator has confirmed that they will allow firms 12 months to apply the expectations and outcomes to live products, with closed book products being allowed an additional 12 months. You can access the policy statement and finalised guidance release here.

The CCTA initial response can be viewed here.