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FCA warns firms need to do more to comply with new Consumer Duty

Commuters
Photo: Getty Images

Martin Cloake

1 min read
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Analysis of 60 providers reveal need for “significant” work to be done.

Some companies will “struggle” to implement the requirements of the new Consumer Duty by the deadline, and a lack of detailed planning, failure to prioritise, and a complacent approach need to be addressed. That’s the conclusion of an FCA analysis of 60 UK financial services groups.

The regulator stressed that

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