Context
The FCA has published a podcast, an mp3 recording and a transcript of an interview with Sean Cafferky, FCA policy expect, about the consumer support outcome of the Consumer Duty.
Key points to note
The FCA says it wants firms to provide a level of support that meets the needs of consumers throughout their relationship with a firm. Among other topics, Cafferky talks about the principles behind the consumer support outcome, its impact on the channels of support firms should offer, what the FCA means by ‘sludge’ and ‘appropriate friction’, and how firms should review their customer journeys to help achieve good outcomes for consumers.
Next actions
None – for information and awareness.