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 topicManufacturers, 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
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 Plus
PIMFA Response to the Financial Services Strategy Sector: Regulatory Cross-Cutting Reforms (Leeds Reforms)
No More Easy Wins: Uniting Against Claims Management Company (CMC) Excesses – Collegiate Underwriting
Read here an article from PIMFA Journal #30 2024 on No More Easy Wins: Uniting Against Claims Management Company (CMC) Excesses, by Collegiate Underwriting
Consumer Duty – Impacts on the Wealth Management and Financial Advice Sector (2nd Edition)
Discover the updated PIMFA report detailing the Impacts of Consumer Duty on Wealth Management and Financial Advice. Key insights on Fees, Client Support, and Governance
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Consumer Duty FCA Focus Areas for 2025
View here the PIMFA infographic of the FCA's areas of primary focus on Consumer Duty for 2025
Financial Conduct Authority – Review of firms’ approaches to the Consumer Support Outcome: good practices and areas for improvement
Read our summary of the FCA's firms’ approaches to the Consumer Support Outcome: good practices and areas for improvement