The FCA’s Consumer Duty came into force for open products and services on 31 July 2023 and 31 July 2024 implementation deadline for closed products and services.
There has been a noticeable improvement made by many firms to deliver better outcomes for their customers. However, some firms are lagging behind. Under the Duty, firms must act to deliver good outcomes for retail customers. Firms should aim to continuously address issues that risk causing consumer harm.
The Duty sets high standards of consumer protection across financial services and requires firms to put their customers’ needs first. Our expert team can assist in ensuring that you are meeting your regulatory requirements by assisting with:
- All aspects of complaint management, from enquiry to successful resolution
- Advice on Financial Ombudsman investigations
- Customer dispute mediation
- Detailed redress assessments
- A review of your complaint policy
Our expert team have deep experience across the fields of finance, compliance, and law. Those backgrounds mean we understand every aspect of regulatory complaints and how to challenge them.