He added: “Having watched the clock slowly tick down until July 31, the next few months are arguably even more important as they will determine whether the extraordinary effort from the sector to ensure compliance with the new consumer duty has been successful.”
The Financial Conduct Authority (FCA) said the new regulations will seat higher standards for consumer protection across the financial services industry.
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The rules will be rolled out to cover closed products and services on July 31, 2024.
tara.o'connor@ft.com
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