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

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.

Matt is recognised by Legal 500 2024 in the Financial Services: Contentious section, where he is described by sources as “one of the most savvy, charismatic and strategically effective practitioners around.” Commentators also say: “For contentious regulation, enforcement and supervision matters, Matt Hancock is the go-to individual. He is exceptionally bright and commercial, with a charming and calm manner,” and other sources add that “Matt is always engaged, has excellent judgment and strikes the perfect tone with the regulator. And he is a delight to work with.”

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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:
    Banking, Finance and Securities
  • Blog:
    Financial Services Observer
  • Organization:
    Greenberg Traurig, LLP
  • Article: View Original Source

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