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ARTICLE · 14 DECEMBER 2022

Updates From The FCA – Looking To 2023

BCL Solicitors LLP
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There has been a flurry of activity in recent months from the Financial Conduct Authority (FCA), with new duties and obligations on regulated firms and individuals on the horizon.

United KingdomConsumer Protection
Matt Davies
Matt Davies
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There has been a flurry of activity in recent months from the Financial Conduct Authority (FCA), with new duties and obligations on regulated firms and individuals on the horizon.  In this article, BCL associate Matt Davies explores areas where the FCA is focusing its attention and provides insight and tips for firms wishing to stay in the regulator's good books.

 FCA consumer duty

In July, the FCA announced that it would require regulated firms to adhere to a new Consumer Duty.  This obliges firms to act to deliver good outcomes for retail customers; the consequences of this are likely to be profound.  It is expected the new rules and guidance relating to the Consumer Duty will come into force on 31 July 2023 for products or services that are open to sale.

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