FCA Details New Consumer Duty Rules For July 2023

By Alex Davidson (July 27, 2022, 12:02 AM BST) -- The Financial Conduct Authority on Wednesday finalized its long-awaited consumer duty regulation, requiring financial services firms to meet higher standards in how they treat retail customers and make their boards accountable.

Starting in July 2023, retail customers and small businesses can expect that there will be no hidden fees or charges in any financial products on sale and that the firms will provide them with support, according to the watchdog.

The Financial Conduct Authority, Britain's financial watchdog, finalized its long- awaited consumer duty regulation, requiring financial services firms to meet higher standards in how they treat retail customers and make their...

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