FCA’s Consumer Duty Mandates Sharper Use of Technology
FICO
JANUARY 9, 2023
They apply to both new and existing products and represent one of the single biggest compliance overhauls since the publication of the regulator’s Treating Customer Fairly Initiative in 2006. The Consumer Duty brings a 12th principle into the FCA Handbook, known as the Consumer Principle. Act in good faith towards retail consumers.
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