Ep.1 Retail Matters: Have you started thinking about the FCA’s new consumer duty?

Our first podcast episode explores the FCA's new consumer duty and how it impacts relevant retailers.

Date Thursday, 12 January 2023

The Retail & consumer team at Foot Anstey bring you the first episode of the firm's new podcast series which focuses on things that we think matter in the retail & consumer sector.

Episode 1 explores the Financial Conduct Authority's new Consumer Duty and what it means for those retailers who are authorised by the FCA. The July 2023 deadline is on the horizon and FCA authorised retailers need to be acting now to ensure that they are compliant by the July deadline.

What's in this week's podcast?

The experts discuss what the FCA's new Consumer Duty is, and which retailers will be impacted by its introduction. As part of their discussion, they provide practical advice on what FCA authorised retailers need to be doing between now and the July 2023 deadline, including:

  • The importance of creating an internal working group and obtaining senior buy-in.
  • How retailers should start the process of reviewing their financial services activities to identify what changes need to be made prior to the July 2023 deadline.
  • The importance of having discussions with any lender or insurer the retailer works with as early as possible.

Even though the implementation process might seem quite daunting and time consuming, the experts also go on to discuss how retailers can use the process of preparing for the Consumer Duty in a positive way that will benefit the business.

Podcast speakers

Useful resources

Access all the previous episodes of our podcast via our dedicated Retail matters podcast page.

Have you started thinking about the FCA’s new Consumer Duty?