FCA Highlights Areas For Focus For Consumer Duty

The FCA has recently published its priorities under the Consumer Duty. The FCA's Consumer Duty focus covers thematic, multi-firm and market-wide work. It says that its projected timelines may change, for example, because the FCA needs to prioritise new and emerging consumer harms. It says that it will keep these areas under review as pressures emerge on specific sectors or the industry as a whole. It has prioritised initiatives where:

• It believes sharing more information on good and poor practice and its expectations will benefit industry and help drive better outcomes.
• It sees the greatest need to act to address harm – or potential for harm – due to the size or urgency of that harm.