Consumer Duty Regulatory Insights
Kroll’s Regulatory Advice and Consulting specialists provide insight on the regulatory change now approaching the financial services industry and discuss the FCAs intention to place clear accountability for compliant implementation of the Consumer Duty. Browse our featured items below.
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What Impact Will Consumer Duty Have for UK Financial Services?
As Consumer Duty becomes live for firms with new and existing products and services, Matt Austen is joined by external guest speaker Claude Weston, Compliance Officer at Casterbridge Wealth to discuss what consumers can expect in the future. Claude will share Casterbridge Wealth's own Consumer Duty journey and how opportunities to further enhance client outcomes have been found.
Kroll’s Regulatory Advice and Consulting specialists provide insight on the regulatory change now approaching the financial services industry and discuss the FCA's intention to place clear accountability for compliant implementation of the Consumer Duty.
What Impact is Consumer Duty Having on the FCA Authorizations Process?
As the deadline approaches for one of the most significant changes to the UK Consumer Regulation in a decade, Matt Austen is joined by Kroll's Regulatory Transactions Lead and former FCA Authorizations team member, Jon Hunsdon, to discuss the impact of the Consumer Duty on firms seeking FCA Authorization. Jon also addresses common questions from clients and provides insights for a smoother authorization journey.
Kroll’s Regulatory Advice and Consulting specialists provide insight on the regulatory change now approaching the financial services industry and discuss the FCA's intention to place clear accountability for compliant implementation of the Consumer Duty.
The Consumer Duty Deadline is Nearly Here – Demonstrating Proportionality and Significant Compliance
In the latest episode of The Kroll Lens: Navigating the Regulatory Landscape, with around a month to go until the first Consumer Duty deadline, Kroll's Consumer Duty expert Matt Austen and UK Compliance Director Warren Low discuss the importance of being able to evidence a reasonable and proportionate response to the Duty requirements, as well as share views on what the achievement of ‘significant compliance' looks like in reality.
Kroll’s Regulatory Advice and Consulting specialists provide insight on the regulatory change now approaching the financial services industry and discuss the FCA's intention to place clear accountability for compliant implementation of the Consumer Duty.
Does the Consumer Duty Increase The Need For Regulatory Due Diligence in Business Acquisitions?
In the latest episode of The Kroll Lens: Navigating the Regulatory Landscape, Kroll's Consumer Duty expert, Matt Austen, and Richard Taylor, Director in Kroll's Financial Services Compliance and Regulation practice, discuss whether the FCA's approach to Consumer Duty makes it even more essential to conduct adequate regulatory due diligence when looking to acquire a regulated firm with retail customers.
What Role Does the 3LOD (Third Line of Defence) Play in Supporting Consumer Duty Compliance
In the latest episode of The Kroll Lens: Navigating the Regulatory Landscape, Kroll’s Consumer Duty expert Matt Austen alongside Paul Heffernan, Internal Audit Specialist in Kroll's Financial Services Compliance and Regulation practice, discuss the role of the third line of defense and how it can help both the firm and the FCA to achieve the key aims of the Consumer Duty.
Is Governance the Key to Success for the Consumer Duty?
In the first episode of The Kroll Lens: Navigating the Regulatory Landscape, Nicola Norfolk is joined by Mark Turner and Matteo Basso, managing directors in Kroll's Financial Services Compliance and Regulation practice, where they discuss the role of the governing body (e.g., the board) at regulated firms in helping the FCA achieve the key aims of the Consumer Duty.
Explore Insights
Regulatory Updates
FCA Thematic Review of Retirement Income Advice – The Regulator’s Probe Steps Up a Gear
Aug 01, 2023 The FCA indicated its intention to undertake a thematic review into retirement income advice to assess the quality of outcomes consumers are getting.
Regulatory Updates
Preparing for the Consumer Duty – Monitoring and Driving Customer Outcomes Using Data
Mar 24, 2023 In this article, we set out how firms are expected to take a data-led approach to assess and evidence the testing of outcomes throughout the consumer journey and product and service lifecycle.
Regulatory Updates
Consumer Duty – FCA Engages with Industry Sectors Using Webinar Series
Dec 19, 2022 To help firms prepare, the FCA announced a series of webinars, which were held in October and November 2022. The webinars were split by sector, giving the FCA one of its first opportunities (since publication of the final rules) to publicly engage with firm and industry representatives.
Evolving Regulatory Environment
Consumer Duty — A Different Approach to Financial Services Regulation
Oct 13, 2022 The FCA has published final rules and guidance introducing a new Consumer Principle, which, at its heart, will require firms to “act to deliver good outcomes for retail customers.”
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