FCA to release good and poor practice in assessment of value reports

Consumer Duty anniversary

The Financial Conduct Authority will set out what constitutes good and poor practice in relation to fair value assessments.

Speaking at a webinar on Wednesday (31 July) to mark one year since the introduction of Consumer Duty, FCA director of competition Graeme Reynolds noted that assessments of value have been "challenging" for a number of firms to "think about and get their heads around". He said the introduction of value assessments, and their formalisation under Consumer Duty, marked a "big change" for companies to contemplate and assess the way their products provide value to investors. As a result, Reynolds said the regulator has been "seeking to work with firms a lot over the last year" to ensure th...