The Financial Conduct Authority’s Consumer Duty came into force on 31 July 2023, making it applicable to all new and existing products or services that are open to sale or renewal. Firms must have all the necessary processes and agreements in place to fulfil their obligations under the Consumer Duty.

We’ve set out the key information firms need to know about the Consumer Duty below, as well as how to become compliant.

For more information on the Consumer Duty, Cleveland & Co External in-house counsel™, your specialist outsourced legal team, are here to help.

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