FCA: Speech by Sheldon Mills: Consumer Duty – the art of the possible in a year

Text of Sheldon Mills’ speech of 20 February 2024 follows in which he discusses progress the regulator has seen on the Consumer Duty since July 2023 and identifies some challenges (including with regard to closed products).  He concludes: “At all times, when supervising and enforcing the Duty, we will be informed by data and metrics as to where we prioritise our focus. It is not a once and done exercise for firms, or for us.”.