In Focus: Consumer duty 1 year on  

Assessing the impact of consumer duty and what’s next

  • Communicate the impact of consumer duty across financial services
  • Describe where firms have yet to improve under consumer duty
  • Identify unresolved issues ahead of the expansion of consumer duty
CPD
Approx.30min

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And to ensure the long-term success of the consumer duty, ongoing collaboration between the regulator and industry stakeholders will be essential in achieving positive outcomes for the industry and their consumers.

Riccardo Tordera-Ricchi is director of policy and government relations at The Payments Association

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CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Which of these has been identified as good practice post-consumer duty, according to the author?

  2. About a quarter of firms have adapted to the duty relatively smoothly, while others have faced challenges, according to the author. True or false?

  3. What improvement is still needed in firms' governance, according to the author?

  4. Repackaging existing data is a good data monitoring strategy. True or false?

  5. Which of these has been highlighted as an area with unresolved issues?

  6. Managing price discrimination remains an issue in financial services, according to the author. True or false?

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  • Communicate the impact of consumer duty across financial services
  • Describe where firms have yet to improve under consumer duty
  • Identify unresolved issues ahead of the expansion of consumer duty

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