Davies ‘Consumer Duty Market Insights’ Survey 2023 - Davies

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Davies ‘Consumer Duty Market Insights’ Survey 2023

The survey includes expert insight on achieving a more outcome-focused approach in supporting consumers.

Davies has undertaken a survey in relation to Consumer Duty with the release of the policy statement from the Financial Conduct Authority (FCA). Manufacturers and co-manufacturers should have shared information with their distributors to meet their obligations under the Duty. All other firms are fast approaching the penultimate implementation deadline of 31 July 2023 for all new and existing products and services.  

The survey was issued to a cross-section of participants in the wealth management and private banking sectors. The purpose of the survey was to provide a snapshot of firms in their implementation journey, delving into the challenges faced as they progress towards the achievement of a more outcome-focused approach in supporting consumers.  

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