“In getting ready for Consumer Duty we realised that our simple Risk Tolerance questionnaire was not enough. We need the holistic appraisal that Oxford Risk provides – Consumer Duty in a box indeed!”
The FCA New Consumer Duty requires firms to consider the needs, characteristics and objectives of their customers – including those with characteristics of vulnerability – and how they behave, at every stage of the customer journey. As well as acting to deliver good customer outcomes, firms will need to understand and evidence whether those outcomes are being met.
Consumer Principle – firms are required to act to deliver good outcomes for retail customers.
Cross cutting rules:
Four outcomes of the FCA Consumer Duty:
Find out how Oxford Risk can support your firm in meeting the upcoming FCA Consumer Duty regulation PS22/9.