Do you need guidance on the Consumer Duty consultation? You can get regular updates from our dedicated hub: insights, webinar recordings, podcasts, and events. 

What's happening now?

The final rules on the Financial Conduct Authority's Consumer Duty are expected by Q3 2022.

The new proposals build on the previous conduct-based initiatives that underpin its expectations – pushing compliance to higher levels.

What's the purpose of Consumer Duty?

Strengthening existing conduct, driving cultural change, and instilling consumer trust​ are key objectives of Consumer Duty.

What's the new Principle for Business?

Firms will be responsible for proactively avoiding foreseeable harm to consumers.​ They'll need to carefully consider the impact on their own businesses, and interactions with other regulated and non-regulated third parties that they rely on.​

Sector view

A guide to the FCA’s new Consumer Duty

Our experts provide a detailed sector breakdown, covering insurance, banks, building societies, consumer credit firms and investment management in our comprehensive Consumer Duty sector guide.

Package of changes

The FCA's Consumer Duty comprise three key features:


Consumer Principle

An overarching principle that sets out the overall standards of behaviour the FCA wants from firms.

Cross-cutting Rules

The rules will develop the FCA’s overarching expectations for common themes that apply across all areas of firms' conduct.

The Four Outcomes

The draft rules and guidance then go on to outline more detailed expectations for the key elements of the firm-consumer relationship:

1 Products and services

2 Price and value

3 Consumer understanding

4 Consumer support


Consumer Duty

Join our technical update for insights on the FCA’s new Consumer Duty, due to come into force in 2023.

UK regulatory handbook 2022

An essential guide to the regulatory landscape for financial services

Why Grant Thornton

You'll get a flexible and scalable team of industry experts who can collaborate with you to determine your current state, support your gap assessment of processes, functions, data and supporting tech and tools, and then set out options to address them and implement the Consumer Duty.

The level and nature of advice and support you can get is entirely flexible. Skilled resource is available as and when required to deliver any aspect of your programme of work.

Consumer Duty: insight on the new rules

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