We are pleased to publish our new consumer duty guidelines. These set of principles clearly sets out the steps we take in fulfilling our duty of providing higher and clearer standards of consumer protection, across the financial services that we offer to our customers.
The Consumer Duty
- A new Consumer Principle that requires firms to act to deliver good outcomes for retail customers.
- Cross-cutting rules requiring firms to act in good faith, avoid causing foreseeable harm, and enable and support customers to pursue their financial objectives.
- Four Outcomes rules requiring firms to ensure consumers receive communications they can understand, products and services meet their needs and offer fair value, and the support they need.