WebAug 9, 2024 · FG22/5 provides a number of examples and makes the following key points: The Consumer Duty is underpinned by the concept of reasonableness, which is an … WebOct 25, 2024 · Throughout the guidance in FG22/5, examples are included of the types of questions the Board champion or other members of firms’ governing bodies could ask to assure themselves the firm is ...
The new Consumer Duty: what impact might it have on firms and …
WebApr 13, 2024 · Consumer Support (CS) is the fourth and final consumer outcome that firms are required to meet under the incoming CD regime. At first glance, the demands on … WebAug 11, 2024 · New guidance – the FCA has published 'FG22/5: Final non-Handbook Guidance for Firms on the Consumer Duty', which includes a range of good and … dodge grand caravan 201
The new Consumer Duty: what impact might it have on firms and …
WebDec 20, 2024 · The Financial Conduct Authority (FCA) has published its final rules for the Consumer Duty (PS22/9), together with additional guidance (FG22/5), and these must be complied with by 31 July 2024 for all open products and services. An additional 12 months will be granted for closed products and services. WebFeb 11, 2024 · The Consumer Duty has indirect application in the sense that firms need to consider any retail customers who ultimately make use of a product or service, even if those customers are not direct clients of the firm. In simple terms, the Consumer Duty is capable of applying to all firms within the distribution chain of a product. ... FG22/5, 2.13 ... WebApr 14, 2024 · And this is the very crux of Consumer Duty – to ensure that all consumers, irrespective of their situation, receive a good outcome. Every customer, especially … dodge grand caravan 2015 19 895 $