| Link(s): | Portfolio letter: FCA expectations for investment-based crowdfunding platforms Portfolio letter: FCA expectations for Loan-based Peer-to-Peer Lending platforms |
Context
The FCA has published Portfolio letters to Crowdfunding and peer-to-peer lending platforms. Although much of the content is specific to these sectors, the content related to Consumer Duty serves as a reminder of the FCA’s focus in this area and its expectation that firms put consumers first, working to deliver good customer outcomes
Key points to note and next actions
Following the Consumer Duty deadline in July 2023, the FCA has firmly stated that applying the Consumer Duty will be a focus of its supervision strategy. Where the FCA sees the need to intervene assertively to prevent a harm arising, or where a harm has occurred, the FCA will be confident in using the tools at its disposal.