Compliance experts disagree with FCA's potential phased implementation period for Consumer Duty
Compliance professionals have come out against any delay in the Financial Conduct Authority implementing Consumer Duty rules as the watchdog ponders switching to a phased implementation period.
The regulator detailed last December that it would introduce a consumer duty to increase customer protection with final rules due at the end of this month with an implementation period running to 30 April 2023.
However, at the beginning of July, the FCA revealed all options were on the table ahead of possible phased implementation period. Reports suggested this could involve delays of up to six months.
Compliance experts have argued the original date for the regulations to be applied should
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