Brand Bitesize: Consumer Duty
The FCA’s Consumer Duty has transformed how firms interact with retail customers. This Brand Bitesize video breaks down what it means in practice – from acting in good faith and avoiding foreseeable harm to ensuring fair value and effective customer support.
This video is correct as at 11 November 2025.
Consumer Duty
If you’re preparing for the CII R01 Financial Services, Regulation and Ethics exam or the R06 Financial Planning Practice exam, understanding the Consumer Duty (FCA Principle 12) is essential.
Introduced on 31 July 2023, the Consumer Duty sets a higher standard of protection for retail clients and requires firms to act to deliver good outcomes for customers.
In this short revision video, we’ll cover:
- What the Consumer Duty is and how it fits within the FCA’s Principles for Businesses
- How it builds on Treating Customers Fairly (TCF) and Principles 6 and 7
- The three cross-cutting obligations: acting in good faith, avoiding foreseeable harm, and enabling customers to meet their objectives
- The four outcomes firms must deliver: products and services, price and value, customer understanding, and customer support
- How the Duty applies to both manufacturers and distributors, and what it means for individual advisers under the new conduct rule
This is a key topic for both R01 and R06 exam preparation, as Consumer Duty principles underpin much of the FCA’s regulatory framework and appear frequently in case study analysis and client-advice scenarios.
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