The new consumer principle
As part of the new Consumer Duty rules, a new ‘Principle 12’ has been added to the FCA Handbook. It states that: “A firm must
Get the latest SMCR news, Corterum feature releases and analysis from our experts.
As part of the new Consumer Duty rules, a new ‘Principle 12’ has been added to the FCA Handbook. It states that: “A firm must
Welcome to the February edition of the Corterum newsletter, where we bring you updates from the world of SM&CR compliance and Consumer Duty. FCA requests
Happy New Year! For our first newsletter of 2024, we wanted to share with you a few updates of what has occurred, and to also
The Consumer Duty is an outcome-focused[1] set of rules designed to set the standard of care that firms should give to customers in retail financial
2023 was a year of huge changes for Corterum. We released a number of new features which added a whole load of new functionality, as
Senior Manager Conduct Rule 1 (“You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled
Individual Conduct Rule 6 (“You must act to deliver good outcomes for retail customers”) Individual conduct rules 6 (“You must act to deliver good outcomes
Individual Conduct Rule 5 (“You must observe proper standards of market conduct”) At its heart, individual conduct rule 5 (“You must observe proper standards of
Individual Conduct Rule 4 (“You must pay due regard to the interests of customers and treat them fairly”) Individual conduct rule 4 (“You must page
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