FCA says all options on table ahead of possible phased implementation period for Consumer Duty


Last December the regulator detailed that it would introduce a consumer duty in order to drive a “fundamental shift” in the mindset of financial services firms.

It committed then to confirm any final rules ahead of the end of July 2022 with an implementation period ending on 30 April 2023.

However, last week the FCA revealed in the minutes to a board meeting that there could now be a switch to a phased approach.

The minutes, for the meeting held on 26 May, detailed the board had been given

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