Authors: Premlata Fagan, Sara Cody

The Final FCA Consumer Duty Rules: key focus areas for asset managers

The FCA has published its final rules and guidance introducing a new consumer duty (the Duty). This heralds the largest shift in a decade in the FCA’s expectations around firm’s treatment of retail customers, and asset managers do not have long to put their plans into place, including their processes for evaluating existing product offerings and establishing arrangements to monitor consumer outcomes.

This note considers the particular points that asset managers will need to keep in mind when formulating their implementation plans.