Consumer Duty

24th January 2023

What is the new Consumer Duty?

The new Consumer Duty is a package of measures intended to improve the standard of care firms offer to consumers. The Consumer Duty comprises a new Consumer Principle that provides an overarching standard of conduct; a set of cross-cutting rules which are intended to clarify the FCA’s expectations; and four outcomes relating to key elements of the firm-consumer relationship.

The FCA expects the Duty to be reflected in firms’ strategies, governance, leadership and people policies. Senior managers will be accountable for delivering the higher standards and good customer outcomes required by the new Duty within their areas of responsibility.

Twigden Asset is committed to adhering to the principles of consumer duty and ensuring steps are being taken to implement the changes required.

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