The “four outcomes” are elements of the firm-consumer relationship which the FCA considers to be instrumental in helping to drive good outcomes for consumers. They relate to:
- Products and services,
- Price and value,
- Consumer understanding, and
- Consumer support.[1]
In general, the “four outcomes” apply at the level of the target market rather than at the level of an individual customer.[2] They would only apply at an individual customer level where a bespoke product or service has been developed for a particular customer.[3]
A very short article this week.
In future weeks we will go on to discuss the “four outcomes” within the context of the various stages of a typical product lifecycle. However, before doing this – next week – we will take a slight diversion to consider the scope of the Consumer Duty more generally.
Stay tuned!
[1] Policy Statement PS22/9, 1.15
[2] Policy Statement PS22/9, 6.11
[3] Policy Statement PS22/9, 6.11
