CONSUMER DUTY.
Helping firms embed Consumer Duty principles and demonstrate positive outcomes for customers.
Consumer Duty is more than just another regulatory requirement to tick off – this core compliance responsibility has a critical role in shaping your company’s reputation and long-term viability. Our expertise will support you in demonstrating to regulators your commitment to delivering positive, fair outcomes for retail customers.
Our expert-driven Consumer Duty assessments will help you to uncover gaps in compliance, how you deal with vulnerable customers and ensure that your policies withstand regulatory scrutiny.
CULTIVATING A CULTURE OF CUSTOMER-CENTRICITY.
As your compliance partner, we will guide you through every step of Consumer Duty compliance – from completing diagnostic assessments to drafting board-ready reports, conducting fairness reviews of customer communications to evaluating how product design affects different customer segments. At all stages, our advice is precise, prompt, commercially focused, and grounded in deep regulatory expertise.
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RISK
Our expert-led Consumer Duty assessments identify compliance gaps and weaknesses that could put your business and your customers (including those who are vulnerable) at increased risk.
REALITY
Leverage extensive regulatory expertise, our Consumer Duty specialists integrate best practices into your operations. This ensures compliance while also enhancing your business’ resilience.
REPORTING
We help craft board-ready reports that meet FCA Consumer Duty requirements and showcase your commitment to fairness, transparency, and responsible business practices.
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FREQUENTLY ASKED QUESTIONS
Find answers to the questions we’re asked most often, from our compliance and training services to how we can support your business.
What is Consumer Duty and who does it apply to?
Consumer Duty is an FCA regulatory framework that requires firms to deliver good outcomes for retail customers across four key areas: products and services, price and value, consumer understanding, and consumer support. It applies to all FCA-regulated firms involved in the manufacture or distribution of products and services to retail customers, including investment managers and fintech firms.
What are the key obligations under Consumer Duty?
Under Consumer Duty, firms must demonstrate that their products and services deliver fair value, that customer communications are clear and not misleading, that customers receive the support they need, and that vulnerable customers are treated appropriately. Firms must also produce and maintain a board-approved annual Consumer Duty assessment.
How does the FCA assess Consumer Duty compliance?
The FCA assesses Consumer Duty compliance through supervisory reviews, thematic work, and firm-specific enquiries. Firms are expected to evidence that they have embedded Consumer Duty into their governance, product design, customer communications, and monitoring frameworks. Poor outcomes for customers are likely to attract regulatory intervention.
What are the most common Consumer Duty compliance gaps?
Common gaps include inadequate assessments of product value, insufficient focus on vulnerable customer needs, customer communications that fail the clarity test, and governance frameworks that do not embed Consumer Duty outcomes into board-level oversight. Identifying and addressing these gaps proactively is essential to avoiding regulatory scrutiny.
How can Cosegic support our Consumer Duty compliance?
Cosegic provides end-to-end Consumer Duty support, from diagnostic assessments and gap analysis to drafting board-ready reports, conducting fairness reviews of customer communications, and evaluating how product design affects different customer segments. Our advice is precise, commercially focused, and grounded in deep regulatory expertise.