Knowledge Hub

July 2023 brings the introduction of the Financial Conduct Authority’s new Consumer Duty. Regulated firms held to the standards of the New Duty will need to act fast in order to become compliant to the latest set of regulations. Is your firm not prepared for Consumer Duty? Here’s how you can change that…

Discover how to verify the authorisation of financial firms in the UK with our comprehensive guide. Learn the importance of the Financial Conduct Authority’s (FCA) approval and regulation, how to access the Financial Services Register, and the steps for firms to become authorised.

The Consumer Duty directs the actions of firms operating within the financial sector and outlines the standard to which the Financial Conduct Authority will hold the firms it regulates. The Consumer Duty in this way is a central document to FCA compliance and avoiding penalisation, as well as a thriving business and happy customers. So, what is Consumer Duty?

A new principle of business has been included in the latest release of the Financial Conduct Authority’s Consumer Duty.
This now totals 12 principles which guide the conduct of firms in the financial industry. With the FCA 12th principle set to come into effect 31st July 2023, are you acquainted with its finer details?

Consumer Duty Monitoring and Governance: Monitoring consumer duty is achieved through firm assessment and evidence. Principals and appointed representatives are responsible for ensuring that their firms are compliant.

Expectation of Firms Under Consumer Duty are based on the actions a firm needs to take to meet the four outcomes of the Duty. View the four outcomes for the Consumer Duty in more detail.

Discover your rights as a financial crime victim in the UK. This comprehensive guide elaborates on the legal protections and services available, including respect, information access, and compensation. Learn how to navigate the complexities of financial crime and assert your rights effectively.

In their reinforced effort to eradicate financial discrimination, the FCA is intensifying regulations across UK markets. This article delves into the FCA’s strategic use of diversity, equity, and inclusion principles to ensure fair treatment and equity in financial services, aiming to foster greater trust and accountability within the sector.

Discover how regulation shapes healthy competition in the automotive industry, ensuring firms adhere to fair practices that benefit consumers. This article explores the impact of Financial Conduct Authority guidelines on curbing negative competition and promoting a trustworthy market environment.