The Financial Conduct Authority’s Consumer Duty has come into force, requiring firms to be open and honest, avoid harm, and support consumers to pursue their financial goals. The new rules for financial services firms in the United Kingdom set a higher standard of consumer protection, including better support, communications, as well as products and services that meet consumers’ needs and offer fair value.

The Finance Feeds tapped two industry experts from Provenir – Chris Kneen, Managing Director, UK & Ireland, and Frode Berg, Managing Director, Europe – for their insights on this regulatory milestone.