All FCA-regulated firms should, by now, have put in place their implementation plans for meeting the Consumer Duty requirements by 31 July 2023 (a later date applies for legacy products). 

Two-thirds of financial advisers fear the FCA’s new Consumer Duty will increase the advice gap.

An investment manager has warned that advisers’ ability to fully comply with the FCA's new Consumer Duty will be in jeopardy if their investment providers fail to provide them with regular and transparent updates.

Financial advisers and providers should not underestimate the extent of what will be expected of them under the new Consumer Duty, according to the Financial Conduct Authority.