Consumer Duty


The FCA has introduced new consumer duty rules and guidelines, with the first key milestone being October 2022. Consumer duty is a significant move from the FCA’s existing Treating Customers Fairly (TCF) requirements, as it is more focused on outcomes.

Consumer duty builds on elements of PROD but has wider coverage of services and distributors. For firms already covered by PROD, it’s an ‘evolution’, but for advice firms it’s a ‘revolution.

Consumer duty is built on a three part structure: the consumer principle, overall cross-cutting rules and four key outcomes.

The four outcomes reflect the regulator’s move towards more outcome focussed regulation, by setting higher, clearer standards of behaviour, culture and conduct expected from firms.

Achieving good outcomes for consumers needs to be at the heart of doing business; evidenced in the sales process, ongoing management through to a consumer leaving a service or product.

How can we help?

We have designed a programme to help you to support mobilisation, management and implementation of consumer duty activities to meet your July 2023 deadline.

We can tailor our assistance depending on our client’s need and the activities that have been undertaken to date. Our options include:


Talk to our specialists

Patricia Celata

Principal consultant

Tracie Harbinson

Principal consultant