PS22/9: A new Consumer Duty

The UK Financial Conduct Authority issued Policy Statement 22/9 to establish a new Consumer Duty aimed at delivering better outcomes for retail customers. The document sets out enhanced standards of care and specific requirements for firms regarding consumer understanding, support, and price and value. This regulatory framework was finalized in July 2022 following a consultation period that ran from December 2021 to February 2022.

United Kingdom

Financial Conduct Authority

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Consultation opens

07/12/2021

Consultation closed

15/02/2022

Policy Statement & Finalised Guidance

27/07/2022

27/07/2022