How we are using the Consumer Duty

First published: Last updated: 26/06/2024

Read more about how we're using the Consumer Duty to set higher and clearer standards of consumer protection across financial services.

Examples of the Duty in action

Title Date
Insurance multi-firm review of outcomes monitoring under the Consumer Duty June 2024
Firms to recommence GAP insurance sales following FCA action May 2024
FCA requests information from firms about delivery of their ongoing advice services and the Consumer Duty February 2024
GAP insurers agree to suspend sales following FCA concerns over fair value February 2024
Retail banking Consumer Duty multi-firm work December 2023
FCA writes to firms about the treatment of retained interest on customers’ cash balances December 2023
Firms should strengthen anti-fraud systems and must treat victims of fraud better, review finds November 2023
Guidance for crypto firms to help them comply with marketing rules  November 2023
Dear Chair of the Remuneration Committee letter 2023 October 2023
FCA calls on insurers to take action as it publishes latest fair value data September 2023
FCA sets out initial findings on bank account access and closures September 2023
Action needed to ensure good outcomes for later life mortgage borrowers September 2023
FCA analysing lenders’ fair value assessments September 2023
PS23/13: Introducing a gateway for firms who approve financial promotions September 2023
Supporting consumers with pension transfers August 2023
Financial Services & Markets Act 2023 gives FCA new powers to protect access to cash August 2023
FCA analysis reveals there are fewer than 1 million interest-only mortgages outstanding August 2023
FCA finds fund managers’ value assessments significantly improved, but still work to do August 2023
FCA sets out 14-point action plan on cash savings July 2023

Consumer Duty – information for firms

Consumer Duty resources
How we are using the Consumer Duty