FCA Consumer Duty
In force since 31 July 2023
Agent Navigation: For section discovery, use /regulations/uk/consumer-duty/llms.txt
Quick Reference
The FCA Consumer Duty is a regulatory framework requiring firms to act to deliver good outcomes for retail customers. It sets higher standards than previous conduct rules and applies across the customer journey from product design to post-sale support.
Applies to: All FCA-authorised firms providing products/services to retail customers (directly or via distribution chain)
Key rules:
- Must act to deliver good outcomes for retail customers [Principle 12]
- Must ensure products/services meet target market needs [PRIN 2A.2]
- Must provide fair value — price must be reasonable relative to benefits [PRIN 2A.3]
- Must communicate clearly so customers can make informed decisions [PRIN 2A.4]
- Must provide support that enables customers to realise benefits [PRIN 2A.5]
| Question | Answer | Citation |
|---|---|---|
| Who’s covered? | All firms serving retail customers | PRIN 2A.1 |
| Deadline for open products? | 31 July 2023 | PS22/9 |
| Deadline for closed products? | 31 July 2024 | PS22/9 |
| Board champion required? | Yes | FG22/5 |
| Annual outcomes review? | Yes | PRIN 2A.9 |
| Applies to B2B? | Only in distribution chains | PRIN 2A.1 |
Regulation Map (All Chunks)
Every section of FCA Consumer Duty coverage is listed here for full-text lookup and agent navigation.
Definitions
Requirements
- Consumer Duty: Consumer Support Outcome
- Consumer Duty: Consumer Understanding Outcome
- Consumer Duty: Governance and Monitoring
- Consumer Duty: Price and Value Outcome
- Consumer Duty: Products and Services Outcome