Consumer Duty is a standard introduced by the Financial Conduct Authority, in the UK, intended to improve Consumer protection for financial-services firms in the UK. The changes were announced in 2021 and officially came into force on 31 July 2023. The Consumer Duty has been described as the 'biggest overhaul for the UK's financial services industry in 20 years'.
Consumer Duty is a standard introduced by the Financial Conduct Authority, in the UK, intended to improve Consumer protection for financial-services firms in the UK. The changes were announced in 2021 and officially came into force on 31 July 2023. The Consumer Duty has been described as the 'biggest overhaul for the UK's financial services industry in 20 years'.
Source: Wikipedia "Consumer Duty" · CC BY-SA 4.0
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