CONSUMER DUTY TIMETABLE
The FCA implementation timeline has been set to the following milestones:
1. By the end of April 2023, all lenders need to have completed the reviews necessary to meet the outcome rules for their existing open products and services, ready to share with distributors to meet their obligations under Consumer Duty and identify where changes need to be made. The output of more2life’s reviews are contained in the product information links below, which include additional information over who our products may or may not be suitable for, the needs the products are designed to meet, and the associated product characteristics.
2. From the end of July 2023, the Consumer Duty will apply to all new products and services, and all existing products and services that remain on sale or open for renewal.
3. From the end of July 2024, the Consumer Duty will come fully into force and apply to all closed products and services.