There has just been a slew of new FCA portfolio letters setting out the strategy for 2025.
Consumer Duty as a Core Focus: Across all sectors, the Consumer Duty is central, requiring firms to deliver outcomes that are beneficial for retail customers. Boards and senior management are expected to embed customer-centric practices deeply into company cultures and operations.
Supporting Financially Vulnerable Customers: With economic pressures continuing, firms are expected to support customers facing financial difficulties through tailored, fair, and informed support systems, ensuring access to advice and practical, sustainable solutions.
Prioritising Financial Resilience: Firms must ensure their business models and financial resources are resilient to economic shocks, focusing on stress testing, contingency planning, and clear communications to safeguard both customer outcomes and market stability.
Operational Resilience Amidst Technological Change: As firms digitise, modernise, and adapt...
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