Context
The FCA has updated the details of its future priorities on its Consumer Duty requirements review web page.
Key points to note and next actions
The ‘future priorities’ section of the web page is broken into four areas:
- Reviewing the foundations (e.g., a review of core definitions, a review of the application of Consumer Duty to non-UK customers, phase 2 of the review of the SM&CR).
- Future-proofing disclosure (e.g., the review of consumer credit advertising rules).
- Reducing the administrative burden (e.g., changes to the rules and guidance relating to distribution chains).
- Streamlining requirements (e.g., targeted clarifications of Handbook materials).