The Financial Conduct Authority (FCA) has published the transcript of a podcast relating to the new consumer duty. Specifically, the transcript includes an interview with the FCA’s Head of Competition, Mr. Ed Smith, as regards the price and value outcome of the new duty. Therein, the Head describes „how the FCA expects firms to assess their products and services, to ensure there is a reasonable relationship between the price paid for a product or service and the overall benefit consumers get from it. Set against the impact of the rising cost of living, Ed explains the importance of this outcome and how firms can best prepare for implementation of the Consumer Duty for new and existing products in July 2023“.
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Date Published: 2023-01-03
Regulatory Framework: FCA Handbook
Regulatory Type: information
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