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Consumer Duty and technology expert and Aveni CEO, Joseph Twigg, explains the risks firms face in light of tightening regulation and the practical actions
companies can take to ensure greater oversight and compliance.
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The FCA has raised the level of urgency on Consumer Duty with their recent 'Dear CEO' letter, making it clear firms must act now to provide evidence of good outcomes for their customers.
The regulator explicitly called out the quality of regular reporting and MI covering customers and their outcomes. What is not clear is how firms are to achieve this given the aggressive deadline...