FCA warns firms over Consumer Duty readiness

The FCA issued findings from its review into firms’ plans to implement the Consumer Duty on 25 January 2023.

The findings identified issues with firms’ preparedness to meet the implementation deadline and highlighted where firms should focus ahead of July 2023. The FCA also identified examples of good practice in firms’ approaches to implementing the Duty’s core expectations, as well as set out detailed examples of where firms need to take action in order to improve their implementation strategy.

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