FCA: “Dear CEO” letters: Implementing the Consumer Duty for closed products and services – retail banking/life insurance/consumer finance
16 May 2024
United Kingdom
1 min read
FCA’s letters set out priority issues and actions firms should be considering ahead of the 31 July 2024 implementation deadline. Specific areas include: gaps in firms’ customer data; fair value; treatment of consumers with characteristics of vulnerability; “gone-away” or disengaged customers, and vested contractual rights.
For more information:
- https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-implementing-consumer-duty-closed-products-services-retail-banking.pdf
- https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-implementing-consumer-duty-closed-products-services-life-insurance.pdf
- https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-implementing-consumer-duty-closed-products-services-consumer-finance.pdf
