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FCA asks for compliance reports in Consumer Duty crackdown

Regulator sends out surveys to check firms have a handle on flagship new rules

The FCA wants to see what controls the City has in place
The FCA wants to see what controls the City has in place Photo: Getty Images

The Financial Conduct Authority is asking firms for a raft of internal reports as it looks to ensure its new Consumer Duty rules are being followed.

Financial services firms have received requests for copies of “all internal and external compliance/audit reports produced, along with actions taken in response to those reports” over the past two years, according to emails seen by Financial News.

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