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FCA Takes Next Step Towards a UK Consumer Duty: An Update for Regulated Businesses

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By Matt Hancock & Katharine Bond on December 31, 2021
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In December 2021, the UK Financial Conduct Authority (FCA) published a consultation to set a higher standard of consumer protection in retail financial markets, an endeavor which began in July 2018. At the core of the proposed new rules is a new Principle for Businesses: “A firm must act to deliver good outcomes for retail customers”. In this GT Alert we focus on seven key takeaways for regulated businesses.

Click here to continue reading the full GT Alert.

Photo of Matt Hancock Matt Hancock

Matt Hancock is a member of the Litigation Practice in Greenberg Traurig’s London Office. He is focused on contentious regulation with a particular concentration on clients’ interactions with the UK Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA). He has considerable experience…

Matt Hancock is a member of the Litigation Practice in Greenberg Traurig’s London Office. He is focused on contentious regulation with a particular concentration on clients’ interactions with the UK Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA). He has considerable experience defending individuals and corporates against regulatory Enforcement action and in helping regulated corporates and individuals pre-empt and manage other forms of regulatory scrutiny. He is also very experienced in the interaction between UK regulation and employment law, with a strong background in the UK Senior Managers and Certification Regime. Feedback in Legal 500 notes Matt as “an exceptional lawyer”, “incredibly diligent”, “as a charismatic and ebullient presence who provides superb client service and regularly wrong-foots regulators and opponents with his imaginative tactics and keen grasp of detail”.

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Photo of Katharine Bond Katharine Bond

Katharine is a member of the Litigation Practice in Greenberg Traurig’s London office. Her practice combines financial services litigation (claimant and defendant) and Financial Conduct Authority (FCA) / Prudential Regulation Authority (PRA) advisory (including enforcement, supervisory and investigations work). Katharine has particular experience…

Katharine is a member of the Litigation Practice in Greenberg Traurig’s London office. Her practice combines financial services litigation (claimant and defendant) and Financial Conduct Authority (FCA) / Prudential Regulation Authority (PRA) advisory (including enforcement, supervisory and investigations work). Katharine has particular experience advising senior individuals in their distressed dealings with regulators, including advising where FCA / PRA regulation meets employment law issues.

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  • Posted in:
    Corporate & Commercial, International
  • Blog:
    Financial Services Observer
  • Organization:
    Greenberg Traurig, LLP
  • Article: View Original Source

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