Consumer duty is a matter of 'unfinished business' for FCA

This week FTAdviser deputy news editor Sonia Rach was joined by Alexandra Roberts, head of regulatory policy and compliance at Pimfa, Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute and Andrew Green, head of compliance helpdesk at Threesixty Services to discuss the consumer duty and the impending July 31 deadline.

Guests acknowledged some of the key challenges firms are facing ahead of the looming deadline and how they are preparing for it.

Given it has now been 10 years since the Retail Distribution Review came into effect - which has been labelled as one of the biggest changes to the adviser marketplace - guests discussed whether the consumer duty will have the same impact and could transform the industry further.

Connell said the consumer duty is the FCA:s focus on aspects of the RDR that are 'unfinished business'.

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