Context
The FCA’s new Consumer Duty will require all managing agents to monitor customer outcomes, identify potential or actual threats to good outcomes and report to the Board.
Key points to note
The LMA’s guidance has been developed with its Conduct Committee and is designed to assist managing agents in identifying data that could be useful for their outcomes monitoring. It notes that the data lists identified are merely suggestions of what managing agents could consider and are not mandatory, expressly recommended, or exhaustive.
Next actions
None – for information and awareness.