Consumer Duty

Ensuring we deliver good customer outcomes.

The Financial Conduct Authority’s new Consumer Duty sets higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first. 

Consumer Duty applies to all end customers including individuals, SMEs and larger corporations.

The Consumer Duty rules relate to four outcomes that represent critical elements of the firm-consumer relationship, which are instrumental in helping to drive good outcomes for customers:

  • Customer Understanding: Customers receive communications they can understand.
  • Products and Services: Customers receive products and services that meet their needs.
  • Consumer Support: Customers get the support they need, when they need it.
  • Price and Value: Customers receive products and services that offer value.

The four outcomes are supported by three cross-cutting rules:

  • Act in good faith.
  • Avoid causing foreseeable harm.
  • Enable and support retail customers to pursue their financial objectives.
Published in July 2022, the Consumer Duty goes further than the Treating Customers Fairly (TCF) framework by requiring FCA regulated firms to ‘act to deliver good customer outcomes’. 

What we're doing

We put the customer at the heart of everything we do and have an established framework embedded into our business to make sure we meet the FCA’s requirements and ‘act to deliver good customer outcomes’.

We continue to regularly review our communications, products, prices and services and make changes through our continuous improvement programme to make sure we consistently deliver good outcomes for your customers.

More information

Full details of the new Consumer Duty can be found via: 

If you have any further questions, please contact your account manager or branch who’ll be happy to help.
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