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ARTICLE · 08 OCTOBER 2025

FCA Publishes Updates On Clarifying And Streamlining The UK Consumer Duty

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On 30 September 2025, the Financial Conduct Authority (FCA) published three updates in connection with the Consumer Duty (the Duty)...

United KingdomFinance and Banking
Christopher Collins
Christopher Collins
Neil Robson
Neil Robson
Sara Portillo
Sara Portillo
James Wells
James Wells
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On 30 September 2025, the Financial Conduct Authority (FCA) published three updates in connection with the Consumer Duty (the Duty): (i) a letter to HM Treasury (HMT) setting out the application of the Duty for wholesale firms (the Letter); (ii) a webpage on the FCA's ongoing work to streamline rules and reduce complexity for businesses following the Duty's introduction (the Webpage); and (iii) a webpage outlining the FCA's priority areas in relation to the Duty for 2025/2026 (the Priority Webpage).

Background

The Duty, which came into force on 31 July 2023 for open products and exactly a year later for closed products, was designed to set high and consistent standards of consumer protection across financial services, adopting an outcomes-based approach. While the Duty has led to positive changes in firm conduct and consumer confidence, its application to wholesale firms has raised concerns about proportionality, compliance costs, and the risk of

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