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Elevating Standards in Consumer Duty: A Story of Innovation and Collaboration

Elevating Standards in consumer duty

In the ever-evolving landscape of financial services, the drive to put consumers at the heart of business decisions has never been more critical. This commitment is the essence of the Consumer Duty, a regulatory principle introduced by the Financial Conduct Authority (FCA) to ensure that firms act in the best interests of their retail customers. […]

Data- what does it mean?

The importance of putting consumers at the heart of a business is the well-recognised aim of Consumer Duty. In my last blog, I talked about the FCA repeatedly expressing that firms should be using data to design comprehensive measures that evaluate consumer outcomes. But what type of data is required to understand outcomes for consumers, […]

Consumer Duty One Year On

Consumer Duty

This week we hit the first anniversary of first implementation deadline for Consumer Duty, it’s a fitting time to reflect on the impact on manufacturers, distributors of investment products and clients. The shift toward a more principals-based regulation has been an interesting concept—a set of rules that aren’t really rules. Instead, an expectation of how […]

Raising Asset Management Standards with the Consumer Duty

Key Takeaways: The Financial Conduct Authority (FCA) introduced the Consumer Duty in July 2022, marking a significant shift in expectations for asset managers. This new regime prioritises consumer outcomes, demanding a higher standard of care for retail investors. Understanding the implications of the Consumer Duty is crucial for asset managers to navigate this landscape and […]

TURN (The Universal Reporting Network) goes live with Fidelity International to Launch Industry-Wide Blockchain Solution for Asset Management

London, Tuesday 25th June 2024 – TURN (The Universal Reporting Network) is thrilled to announce that we are now live with Fidelity International, marking the official launch of TURN’s blockchain-based data management and compliance platform for the asset management industry. TURN’s innovative platform leverages advanced blockchain technology to ensure unparalleled data integrity, security, and transparency. […]

Governance Frameworks and Structures: A Key Pillar in Consumer Duty Compliance

Consumer Duty Governance

The introduction of the Consumer Duty by the Financial Conduct Authority (FCA) marks a significant shift in regulatory expectations for firms in the financial sector. This new framework emphasizes the need for firms to prioritize the standard of care they provide to their clients, which will inherently influence their culture and behaviours. One of the […]

Navigating the Consumer Duty Landscape with TURN ( The Universal Reporting Network )

Consumer Duty

In the dynamic world of financial compliance, a new rhythm is reverberating throughout the retail investment sphere—the Consumer Duty data sharing functionalities. With regulatory terrain in constant flux, the imperative for a system capable of managing complexity while ensuring ease and efficiency for asset managers and distributors has never been more crucial. Enter TURN (The […]

Unlocking Transparency in Asset Management: The Case for Blockchain Over Spreadsheets 

blockchain

In a world where algorithmic trading dictates market movements and digital transformation reshapes industries, asset managers are grappling with unprecedented challenges. From adhering to Consumer Duty regulations to ensuring robust reporting, the asset management industry stands at a crucial junction. The sector’s transformation towards digitisation isn’t just a trend; it’s a necessity fuelled by the […]