City Hive's Bev Shah: How to ACT on Consumer Duty and SDR as deadline looms

While many members of the UK investment industry are off on their summer jaunts, there is a significant date on the horizon with far-reaching impacts.

On 31 July 2024, the UK investment industry will ‘celebrate' one year since Consumer Duty, the Financial Conduct Authority standard to enhance the level of care provided to all consumers, came into play, but also it will mark Consumer Duty rules being rolled out to closed products/services. 

We have long emphasised the importance of good corporate culture for the long-term prospects of a firm, and understanding how values are embedded in a way that ensures fair outcomes.

Regulation appears to be catching up. It has prioritised transparency and open communication with Consumer Duty and SDR.

Read City Hive's co-CEO Bhavini ‘Bev’ Shah's column in Investment Week on how the ACT Standard can help investment firms meet their regulatory objectives.