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Consumer Duty

Consumer Duty is a new regulatory requirement that is a top priority for the FCA. The deadline to implement these requirements is fast approaching (April and July 2023 for Milestones 2 and 3 respectively), with failure to do so likely resulting in FCA investigation. It is essential to fully implement these requirements and independently validate these to ensure full compliance.

Why Novatus:

We are experts in regulatory change, delivering start-to-finish project management to achieve the best outcomes for our clients. Our experience spans the financial services sector – our team has experience in asset and wealth management, insurance, and banking. 

We quickly understand your business model, identify key areas of concern, and create a tailored solution that satisfies the regulatory requirements whilst being business friendly.

We know what a regulator wants to see and good looks like. We can validate your implementation and pick up on common flaws quickly and efficiently.

Recent examples of work:

Asset Manager: We provided a full review of the firm’s position - identifying the status quo, and in turn, granular identification of anything needed. Our team created a list of remedial actions to prevent regulatory overreach and its related cost and time implications.

Well-known Asset Manager: The Novatus experts performed validation on the client’s Implementation Plan preparatory work, readying this for stakeholder review, and guiding them through FCA submission.

Leading Asset Manager:  Our team provided technical assistance and guidance on an ongoing basis to support the firm’s roll out of its Implementation Plan.

Proud to advise

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