PIMFA response to A New Consumer Duty – Feedback to CP21/3 and further consultation

PIMFA Consultation Response to FCA's A New Consumer Duty – Feedback to CP21/3 and further consultation, where we express views including that, whilst we believed there to be significant improvements which could be made to the FCA's initial proposals, our overriding concern around the Duty was not about the ability of wealth and advice firms to comply with them, but the inherent subjectivity of the Duty and in particular, how it may be interpreted going forward in instances where complaints are made to the Financial Ombudsman Service