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April 15, 2025
The FCA has published a ‘good practice and areas for improvement’ report in relation to its review of firms’ approaches to the consumer support outcome of the Consumer Duty.
The consumer support outcome is one of the four key outcomes of the Duty. It should be viewed alongside the Duty’s other outcomes and cross-cutting obligations. The requirements and the FCA’s expectations are set out in PRIN 2A.6 and Chapter 9 of the FCA’s Finalised Guidance (FG 22/5).
The FCA wants firms to provide a level of support that meets customers’ needs throughout their relationship with the firm. Firms’ customer service should enable customers to realise the benefits of the products and services they buy and support them in pursuing their financial objectives.
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