🇬🇧 Live Insurance

FCA Consumer Duty (PS22/9)

Requires FCA-regulated firms to act to deliver good outcomes for retail customers across products and services, pricing, consumer understanding, and customer support. Applies to firms in the retail financial services distribution chain.

View official source document

Rules extracted

Obligations decomposed

4.2x

Avg obligations per rule

🇬🇧 United Kingdom

Jurisdiction

About this regulation

The Consumer Duty (PS22/9) sets higher expectations for the standard of care that firms give consumers. It comprises Principle 12 (the Consumer Principle), the cross-cutting rules, and the four outcomes. It applies to all FCA-authorised firms involved in the manufacture, provision, or distribution of products and services to retail customers. The Duty came into force on 31 July 2023 for open products/services and 31 July 2024 for closed products/services. Enforced by the Financial Conduct Authority.

What AuditDSS covers

Source

Regulation

Extracted

Rules

Decomposed

Obligations

4.2x

Decomposition ratio

Each rule is decomposed into an average of 4.2 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 50 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in Consumer Duty is scored across independent risk dimensions:

Obligation Weight

How critical within the regulatory framework

Violation Likelihood

How often breached in practice

Enforcement Evidence

Regulator enforcement history and penalties

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title: FCA Consumer Duty (PS22/9)
Regulatory body: Financial Conduct Authority
Jurisdiction: 🇬🇧 United Kingdom
Document type: policy-statement
Effective date: July 31, 2023
Issuing authority: Financial Conduct Authority (FCA)
Industry: Insurance
Official source: View source document ↗

Who this applies to

manufacturersdistributorsall_fca_authorised_firms

Key requirements

Principle 12 good outcomes
act in good faith
avoid foreseeable harm
enable and support customers
products and services outcome
price and value outcome
consumer understanding outcome
consumer support outcome
annual board assessment
Consumer Duty Champion

Frequently asked questions about Consumer Duty

What is Consumer Duty?

Who does Consumer Duty apply to?

Consumer Duty applies to manufacturers, distributors, all_fca_authorised_firms.

How many obligations does Consumer Duty contain?

AuditDSS has decomposed Consumer Duty into 50 atomic obligations from 12 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of Consumer Duty?

The key requirements include: Principle 12 good outcomes, act in good faith, avoid foreseeable harm, enable and support customers, products and services outcome, price and value outcome, consumer understanding outcome, consumer support outcome, annual board assessment, Consumer Duty Champion.

How can I assess my Consumer Duty compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 50 Consumer Duty obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces Consumer Duty?

Consumer Duty is enforced in United Kingdom by Financial Conduct Authority.

When did Consumer Duty come into effect?

Consumer Duty became effective on July 31, 2023.

What industry does Consumer Duty apply to?

Consumer Duty is primarily relevant to the Insurance industry. AuditDSS covers 98 regulations in this industry sector.

Build a Consumer Duty compliance pack

Don't have a compliance policy yet? AuditDSS generates a complete compliance pack for Consumer Duty — alone or combined with other regulations your business needs. Every clause is mapped to specific obligations.

Policy

High-level commitments and governance framework covering Consumer Duty requirements.

Procedures

Step-by-step operational procedures to implement each policy commitment.

Forms & checklists

Ready-to-use forms, registers, and checklists for day-to-day compliance operations.

Multi-regulation

Combine Consumer Duty with other regulations into a single unified compliance pack for your business.

Build Consumer Duty compliance pack

Already have a policy? Assess it against Consumer Duty

Upload your document

Upload your compliance policy, program manual, or operational document. AuditDSS accepts any text-based document.

AI maps against 50 obligations

Your document is scored against every obligation in Consumer Duty. Each claim is mapped to the obligation tree and evaluated for coverage.

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.