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Retail bankingJune 28 2023

Day 1 is only the beginning for the UK Consumer Duty

The consequences for firms do not end with the looming deadline of July 31, writes Caroline Wayman.
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Day 1 is only the beginning for the UK Consumer DutyImage: Getty Images

The Consumer Duty, which has been long awaited and long debated, is nearly here. Retail financial services firms need to be ready for implementation by the end of July. 

But this is just the beginning; firms have a lot of work ahead to demonstrate that they have embraced the new duty and will be able to show that customers are now truly at the heart of their businesses.

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