FCA sets out Asset Management supervisory priorities and Consumer Duty expectations

The FCA wrote to Asset Managers on 3 February 2023, setting out its view on the harms and risks in the sector, its activities around these, and its expectations of firms. It simultaneously also wrote to firms to underline its expectations on the new Consumer Duty rules.

The FCA highlights five key areas: product governance including consumer duty, ESG and sustainable investing, product liquidity management, investments in operations and resilience, and financial resilience. In each of these areas the FCA considers the potential harms and risks, and its supervisory response.  

Download this At a glance to see a detailed analysis of the FCA’s approach, and what firms need to do.