Big Shake Up On The Way For Retail Financial Providers As FCA Consults On A New Consumer Duty Principle
By EsqSocial Corporation 20/05/21
On 14th May 2021, the Financial Conduct Authority (“FCA”) published a consultation paper (CP21/13) setting out its proposals for a new consumer duty to be imposed on FCA regulated firms. This new duty will, if implemented, necessitate a big shake up in the way firms market, sell and price their financial retail products. This new FCA initiative is in part an answer to widespread concerns over the “loyalty penalties” paid by longstanding customers of financial services companies highlighted in...
By: Rosenblatt