In a keynote speech at Deloitte's Countdown to Implementation of the Consumer Duty event yesterday, Sheldon Mills, Executive Director, Consumer and Competition at the FCA highlighted how putting customers front and centre will help industry to innovate.
Highlights from his speech included:
- Firms will innovate through the Consumer Duty, which puts customers at the heart of any planning for financial services and products.
- The FCA is thankful to the many firms that are continuing to make substantial efforts to embed the policy across their organisations.
- Focusing on the areas that will have the greatest impact on consumer outcomes should be every firm’s priority ahead of 31 July
You can read the full speech on the FCA website: Call of Duty: how putting customers front and centre will help industry innovate.
If you would like to discuss the legal implications of the new Consumer Duty, please contact:
Marian Bloodworth - Financial Services Employment Partner
James Henson - Financial Services Regulation Director
Richard Storey - Financial Services Associate Director
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