The review explores how fast-growing groups are managing key risks such as governance, debt, and post-acquisition integration. It highlights both good practices and areas where improvements are needed to ensure that consolidation delivers positive outcomes for clients, firms, and the wider market. They are not introducing new rules, but are encouraging any firm who is considering growing via acquisition to review the findings. You can read the full report here:
REGULATORY UPDATE: PRINCIPLES WITH PROOF
Charlotte Clark, FCA’s Director of Cross-Cutting Policy and Strategy, recently emphasised the shift from prescriptive regulation to “principles with proof”. In its simplest terms, the regulator is evolving from asking firms “are you compliant?” to saying “show us the outcomes.” This is being underpinned by a multi-firm review programme, evaluating how consumer outcomes are monitored and how firms are managing friction within customer journeys.
ALLIANCE RESOURCES TO HELP YOU DELIVER AND EVIDENCE BETTER OUTCOMES
As a professional body created by the sector for the sector, we aim to both provide a voice for smaller firms with policymakers and help you meet the regulator’s evolving expectations under the Duty.
Here are some CDA resources that you may find helpful:
UPCOMING EVENTS AND SUPPORT
For those of you attending our Marlow conference next week, the FCA’s foreseeable harms session focuses on suitability reports, with a mini case study that we’re sure will offer valuable insight for attendees. This will be repeated at our Vale of Glamorgan event on 21st January, with a limited number of tickets still available - book here.
Data Protection - FCA guidance on data protection in partnership with the ICO is anticipated early next year and we’re currently working with Affiliate partners on both a practical guide to data security and a plain English guide to supporting customers in vulnerable circumstances through a data protection lens.
MEMBERSHIP: STAY CONNECTED, STAY INFORMED
Consumer Duty Alliance membership is free and open to everyone in regulated advice firms – our Directors and volunteers operate on a pro-bono basis to support the profession in the implementation of Consumer Duty and our ongoing journey of evolution.
Join or refer a colleague to our growing community of professionals committed to delivering better outcomes and Raising Standards Together, and gain access to exclusive webinars, practical guides, and peer support.
Whether you're refining your approach to outcomes monitoring or exploring AI tools, the Alliance is here to support you every step of the way. Let’s keep raising standards together.
Very best wishes,
Keith Richards, CEO, Consumer Duty Alliance
