Good outcomes: Applying sustainability to Consumer Duty

The imminent arrival of Consumer Duty heralds a major shift towards a more forward-looking and preventative approach to mitigating the risk of consumer harm. It applies across the whole distribution chain, from advisers to products and services offered right through the distribution and post-sale activities. Included in the new rules is a new consumer principle, which is underpinned by four expected outcomes. These are: Products and services: ‘Fit for purpose' products and services that are clearly designed to meet the needs of the customer and their known objectives. Price and va...