Regulatory Alerts2026-06-25
Added · Updated
CP26/23 Consumer Duty: scope and proportionality
The Financial Conduct Authority proposes limiting the Consumer Duty to retail market business where the customer is usually resident in the UK, excluding wholesale activities and cross-border business with non-UK customers. The proposals clarify the Duty's application within distribution chains, allowing firms to rely on each other and apply obligations proportionately based on their specific roles. Targeted adjustments are also proposed for information-gathering, outcomes monitoring, and board reporting to reduce duplication and unnecessary complexity. Comments on these proposals are requested by 18 September 2026, with new rules expected in Q1 2027.
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