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/publications/policy-statements/ps22-9-new-consumer-duty

Consumer Duty

The Duty sets high standards of consumer protection across financial services, and requires firms to put their customers' needs first.

Final rules & guidance

Latest news and publications

July 2024: Taking the leap on the Consumer Duty

Speech by Sheldon Mills delivered at our Consumer Duty: 1 year on event.
Read the speech

May 2024: Dear CEO letters - closed products and services

Our Dear CEO letters set out priority issues and actions firms should be considering ahead of the 31 July 2024 implementation deadline.
Read more

February 2024: Consumer Duty - good practice and areas for improvement

Examples of the positive behaviours and changes we have seen firms make, and areas for improvement.
Read more

February 2024 - Consumer Duty: the art of the possible in a year

Speech by Sheldon Mills delivered at KPMG 6 months on from the introduction of the Consumer Duty.
Read the speech

Key milestones

Steps in the introduction of the new rules:

1

27 July 2022

Final rules and guidance published

2

31 October 2022

Firms agree implementation plans

3

30 April 2023

Manufacturers complete reviews to meet the outcome rules

4

31 July 2023

Rules start for open products/services

5

31 July 2024

Rules start for closed products/services