FCA has updated its information summary page on the Consumer Duty to include more detail on its expectations on firms applying now for authorisation. It expects firms to provide it with all policies, processes, MI and any other materials which they will use to support their compliance with the Duty. FCA may also ask for additional information on issues such as a target market analysis, a product and service governance or fair value assessment framework, documents to support customer understanding assessments and monitoring, or a root cause identification process.
