Consumer Duty
Consumer Duty requires firms to act in the best interests of customers, ensuring fair outcomes and clear communication.
Visit the Consumer Duty dedicated microsite on this topicRoyal London: Beyond Customer Outcomes
Discover the Royal London policy paper, "Beyond Customer Outcomes," and discover strategies to enhance retirement living standards beyond mere product outcomes
PIMFA & the Consumer Duty – Our Work on Behalf of Membership
Discover the updated PIMFA Guide from October 2023, detailing our efforts to assist members in navigating Consumer Duty and related challenges
PIMFA Journal Edition #31
Read here the PIMFA Journal #31, featuring nine articles written by PIMFA Associate member firms on current industry topics of interest, relevant to their firms’ operations, Topics include AI, Senior Management Functions, Women Investors, Private Investment, CCI Product Summaries, Data, M&A, Back Office as a Strategic Asset
PIMFA Groups Infographic
Read here the updated PIMFA Groups infographic, showing the structure involved
Consumer Duty – One Year In, What Lies Ahead.
Read our Journal #28 article on Consumer Duty - One Year In, What Lies Ahead.
Consumer Duty – increasing incomes by improving outcomes.
Read our Journal #28 article on Consumer Duty - increasing incomes by improving outcomes.
Manufacturers, distributors and co-manufacturers under the Consumer Duty
This guide provides some clarity on the roles of manufacturers, distributors and co-manufacturers under the Consumer Duty. The focus of this guide is on investment business and specifically the relationships between discretionary managers and adviser firms/intermediaries.
FCA 20 February 2024 – What firms are doing well and what they could do better
PIMFA Summary on FCA Speech - What firms are doing well and what they could do better
PIMFA Consumer Duty Implementation plan outline Duplicate
Discover a comprehensive outline for implementing the PIMFA Consumer Duty. Enhance your understanding and ensure compliance with our detailed plan
FCA Consumer Duty annual board report Summary
Download here a PIMFA summary on the FCA's Updates on Consumer Duty: Consumer Duty annual board report, looking at updated information for firms to include more information on the regulator’s expectations and requirements on annual board reports
PIMFA Summary FCA Consumer Duty updates – Insurance multi-firm review of outcomes monitoring
Download here the PIMFA Summary of FCA Consumer Duty updates - Insurance multi-firm review of outcomes monitoring, which publishes key findings from their review of larger insurance firms’ approaches to outcomes monitoring under Consumer Duty (CD)
Financial Conduct Authority Consumer Duty event (31 July 2024)
Download here the PIMFA summary of the Financial Conduct Authority (FCA) Consumer Duty event from 31 July 2024, covering Consumer Duty's outcomes-based approach, Proportionality, Firm Culture, Challenges for Firms, Wider Implications Framework and FCA next steps
PIMFA Summary – Consumer Duty annual board report
Download here the PIMFA Summary - Consumer Duty annual board report, where the Financial Conduct Authority (FCA) have updated information for firms to include more information on the regulator’s expectations and requirements on annual board reports