On 1 November 2022, the Financial Conduct Authority (“FCA”) published a speech by Therese Chambers (Director of Consumer Investments, FCA) on key priorities for the financial services industry. In its speech, the FCA stated that it wanted to see more consumers investing their money safely and that the new Consumer Duty (“CD”) and the Consumer Investment Strategy (“CIS”) bring about important changes to meet this aim, including driving successful consumer outcomes and ensuring consumers are provided with good financial advice. The FCA’s speech focuses specifically on the application of the CD to financial advisors, highlighting how financial advisers play a major role in delivering a better market…


The FCA has highlighted the Consumer Duty in its priorities. We are working with our clients to identify if they are in scope of the Consumer Duty and can advise firms on how to comply in practice. For more information, guidance, or advice on the key highlights of the FCA’s speech on key priorities for the financial services industry, Cleveland & Co External in-house counsel™, your specialist outsourced legal team, are here to help.

To read the full speech please click here.

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