Duty calls: Future-proofing finance for everyone

Summary:

The Financial Conduct Authority (FCA) has outlined its achievements and milestones from the last 12 months, highlighting key initiatives and reforms. Notable achievements include the introduction of the Consumer Duty, which aims to set higher standards of consumer protection across financial services. The FCA also took action against guaranteed asset protection insurance providers, imposed fines for inadequate anti-money laundering systems, and removed over 10,000 misleading adverts. Other notable accomplishments include progress in maintaining access to cash, promoting competition, and tackling online harms. The FCA also launched consultations on new guidance for firms, diversity and inclusion in the financial sector, and sustainability disclosures. The regulator's efforts aim to support long-term economic growth, reduce harm, and safeguard consumer interests.