December 7, 2021

Consume Duty Consultation

The FCA have launched a second consultation on Consumer Duty which will affect APIs and EMIs.

The FCA want to drive higher levels of consumer protection in retail financial markets. Their concern is that  firms are not consistently and sufficiently prioritising good consumer outcomes which causes consumer harm and erodes consumer trust.

The consultation paper can be found here and members are encouraged to read it. A webinar will take place in early 2022.

https://www.fca.org.uk/publication/consultation/cp21-36.pdf