Year 2 Consumer Duty Board Reports: progress and what comes next

Summary

Under the Consumer Duty, firms must report annually on what their monitoring found about customer outcomes, and what actions they’ll take as a result.Good Consumer Duty Board reports provide clear evidence about outcomes – helping to turn governance into real change. Boards can ask better questions, hold people to account, and act quickly to make sure they aren’t causing harm or offering poor value. We’ve seen this lead firms to design better products, communicate more clearly and support the...