Minister Andrew Griffiths reports concerns about Consumer Duty

Early last week, an article in the Financial Times, reported that City of London Minister, Andrew Griffiths, has reportedly raised concerns about Consumer Duty and its potential effect on the financial services industry. It is reported that Andrew Griffiths is worried about the regulatory burdens upon firms to meet the principles of the duty as well as it adding to the compensation culture through a potential wave of vexatious claims.

SOURCE: Financial Times (pay wall)