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Consumer Duty

A firm must act to deliver good outcomes for retail customers

The FCA published its Consumer Duty rules in July 2022, for implementation in two stages, in July 2023 and July 2024.

At the highest level, the duty can be summed up in a new principle: "A firm must act to deliver good outcomes for retail customers." As such, Consumer Duty regulations provide an opportunity for firms to demonstrate their commitment to their clients and boost confidence in financial services.

The FCA’s principle is elaborated in cross-cutting rules, or obligations, which state that a firm must:

  • act in good faith towards retail customers
  • avoid foreseeable harm to retail customers
  • enable and support retail customers to pursue their financial objectives

These cross-cutting rules are linked to four outcomes:

  • Products and services
  • Price and value
  • Consumer understanding
  • Consumer support

This page provides a repository for the many resources we have produced to help our members and customers navigate the duty and signposts others that are in development.

Consumer Duty Toolkit

This toolkit has been designed in association with compliance experts who have worked with smaller financial services firms to help them prepare for the introduction of Consumer Duty. It is designed to help build a comprehensive and coherent presentation of all the activities that makes a firm compliant with the Duty.

It provides a practical approach to answering the question: Do I say: “show me where it says I can’t”
or do I say: “is this ethical”?

The toolkit consists of an overview document, and eight templates. Some templates have been pre-populated with example answers, and some statements will be more relevant for some firms than for others. 

  1. Download Overview Document here
  2. Download Gap analysis here
  3. Download Implementation Plan here
  4. Download Interim & Ongoing Review here
  5. Download Fair Value Statement: Initial Advice here
  6. Download Fair Value Statement: Ongoing Advice here
  7. Download Fee Divergence Register here
  8. Download Vulnerable Client Checklist here
  9. Download Vulnerable Client Register here

Training and certified courses

Assess – New Consumer Duty pathway of digital learning modules, including an assessment so firms can easily roll-out and evidence adoption of core knowledge.

TrainingExplore our range of new Consumer Duty training, so firms can easily roll-out and evidence adoption of core knowledge.


Consumer Duty, vulnerable customer and customer outcome content exists across all relevant existing PFS qualification framework units at Award, Certificate, Diploma and Advanced Diploma, and is being updated with subject experts to ensure up to date.

Competency assessment and reporting tools

PROFICIENCY+ Consumer Duty Diagnostic Tool - The tool enables your firm to manage, develop and evidence the behaviours and competence of your workforce against the expectations of the FCA.

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