FCA's consumer duty to cost firms up to £2.4bn
The Financial Conduct Authority has estimated that businesses will face a one-off bill of up to £2.4bn to comply with its proposed consumer duty rules, with ongoing annual direct costs of up to £176m.
The watchdog is consulting on consumer duty rules that it said will “fundamentally shift the mindset of firms”, with businesses having to focus on supporting and empowering their customers to make
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