Regulatory Alerts2025-03-28
GFSC Guidance Note on Consumer Duty
The Gibraltar Financial Services Commission issued this guidance note to clarify the obligations under the Financial Services (Core Principles and Consumer Duty) Regulations 2024 for retail financial market participants. The document details the Consumer Duty's four key outcomes regarding product governance, price and value, consumer understanding, and consumer support, alongside three cross-cutting requirements for firm behavior. It further outlines specific expectations for firms across the distribution chain, including due diligence, liability, and the assessment of fair value for both new and existing products.
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