Tags Consumer Duty

Tag: Consumer Duty

Do banks and building societies have their customers’ best interests at...

Research conducted by NTT DATA UK&I has found 46% of people do not believe their banks or building societies have their best interests at heart. 

FCA unveils new Consumer Duty plan to boost savings interest rates

The UK FCA has announced its first actions under the new Consumer Duty rules, outlining a 14-point plan aimed at enhancing cash savings interest rates.

FCA Consumer Duty Countdown: Are firms ready?

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

How will the introduction of Consumer Duty change RegTech?

After over a year since it was announced, the Consumer Duty legislation finally came into effect in the UK this week. How will it impact the RegTech space? 

Consumer Duty takes effect: A new era of protection in financial...

Consumer Duty, a set of new rules aimed at enhancing consumer protection in the financial services sector, has come into force as of 31 July.

Harnessing AI for compliant communication ahead of FCA’s Consumer Duty

The UK's Financial Conduct Authority (FCA) recently released a ten-point checklist for companies in anticipation of the new Consumer Duty regulation set to be enforced on July 31, 2023. This regulation marks a pivotal shift in the regulatory landscape, impacting both new and existing services and products available for sale or renewal.

Firms unprepared for FCA’s Consumer Duty deadline, warns Bovill

With the Financial Conduct Authority's (FCA's) Consumer Duty deadline just 50 days away, almost half of firms are unsure about the implementation timeline, a new Bovill survey indicates.

Consumer Duty in the age of ESG: Are firms ready for...

The implementation date of Consumer Duty is quickly approaching. Firms will need to be ready by 31st July 2023, but are firms going to be ready?

Navigating the Consumer Duty: FCA insights into Fair Value Frameworks

The Financial Conduct Authority (FCA) has disclosed its findings from a review of 14 fair value frameworks ahead of the Consumer Duty implementation in less than three months. RegTech platform Novatus Advisory has reviewed this and outlined the key takeaways for firms. 

Lenders scramble to meet Consumer Duty deadline, 61% seek external expertise

As the deadline for the Financial Conduct Authority (FCA)'s Consumer Duty approaches, a startling 67% of lenders report feeling unsupported by the FCA.

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