Consumer Duty resources
We've created this resource page to help you meet your Consumer Duty requirements as an intermediary; helping you deliver positive customer outcomes.
What is Consumer Duty?
Consumer Duty is a standard introduced by the FCA that aims to offer a higher degree of protection for consumers across financial services in the UK. It requires that firms put their customer’s needs first.
As part of Consumer Duty, lenders and intermediaries are required to work together to ensure that all products offer fair value, where there is a reasonable relationship between the benefit that consumers receive and what they pay.
Within sections PRIN 2A.3.16 R and PRIN 2A.4.16 R , the standards set out that brokers must be able to identify the following before recommending our products:
- Characteristics and benefits of our products
- Target markets for our products
- How our products are distributed
- Whether our products provide fair value
Fair Value Documentation
To help you meet your responsibilities under the Consumer Duty rules and deliver good customer outcomes, we’ve made all of our product information sheets available below.
Within them, you’ll find:
- Product characteristics and benefits
- Target market assessment and distribution strategy
- Customers with characteristics of vulnerability
- Our assessment of value