Nine months into the Consumer Duty - key considerations

Embedding the Consumer Duty is not a "once and done" exercise, the Financial Conduct Authority has stressed. With the first board report on customer outcomes as well as implementation for closed products and services due by 31 July, Sumitra Subramanian highlights vital areas for firms' ongoing attention.

Sumitra Subramanian is a principal associate in the Financial Services Disputes and Investigations group at Eversheds Sutherland. Contact her on sumitrasubramanian@eversheds-sutherland.com.

More than nine months have passed since the Consumer Duty came into force and, in that period, the FCA has been busy. The Duty has been keeping firms occupied as well, as they work to embed it into how they conduct business. This article examines the key considerations for firms as they incorporate the Duty, including how they can protect themselves against regulatory intervention.