| Link(s): | Our Consumer Duty focus areas | FCA |
Context
The FCA has updated its Consumer Duty focus areas web page to include links to pieces of work that it has published, and further details on existing updated priorities.
Key points to note and next actions
The FCA has prioritised initiatives where:
- it can share more information on good and poor practice and its expectations to help industry deliver better outcomes;
- it sees the greatest need to address actual or potential harm.;
- it needs more data to understand how firms are embedding the Duty and delivering good consumer outcomes; and/or
- there are opportunities to streamline our rules, reduce burden on businesses and improve outcomes for consumers.
Links are now included to FCA reviews of the products and services outcome, firms’ approaches to outcomes monitoring, the consumer understanding outcome, Unit-linked pensions and long-term savings, its market study into pure protection insurance, and its market study into premium finance.