Source · Select Committees · Financial Services Regulation Committee
Recommendation 177
177
However, whilst witnesses supported the underlying objective of the Consumer Duty, they told us that...
Conclusion
However, whilst witnesses supported the underlying objective of the Consumer Duty, they told us that its implementation by the FCA has generated considerable uncertainty. We also heard a range of concerns about the impact of Consumer Duty, specifically that the FCA has provided insufficient clarity around how it expected firms to comply with the Duty, and that it had created duplication and complexity within the framework. Concerns about Consumer Duty
Government Response
A response document is linked to this report, dated 3 September 2025. Response attribution to this conclusion has not been verified. Read the response document ↗