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Money Marketing: Joe Norburn Consumer Duty and the next phase of advice regulation

Joe Norburn explains why the next phase of Consumer Duty shifts advice regulation from implementation towards evidence, monitoring and measurable improvement.

Looking up between glass skyscrapers and the steel-clad Lloyd's building in the City of London

Summary

What this article covers in 30 seconds

  • The next phase of Consumer Duty marks a shift from implementation to evidence.
  • The FCA expects firms to demonstrate outcomes through data, monitoring and measurable improvements.
  • Firms should strengthen fair value testing, customer journeys and vulnerability support.

Recently featured in Money Marketing, Joe Norburn TCC Group’s CEO (TCC, Momenta and Recordsure), outlines how the next phase of Consumer Duty marks a shift from implementation to evidence. The Financial Conduct Authority (FCA) is signalling a move away from additional prescriptive rules, instead expecting firms to demonstrate —through data, monitoring and measurable improvements — how they are delivering good customer outcomes in practice.

Firm’s focus should now be on continuous improvement: testing fair value, refining customer journeys, strengthening vulnerability support and ensuring insights lead to tangible change. Firms that embed Consumer Duty as a strategic driver, rather than a compliance exercise, will be better positioned to meet regulatory scrutiny, build trust and deliver sustainable, client-centred growth.

Frequently asked questions

A shift from implementation to evidence: firms are expected to demonstrate good customer outcomes in practice.

They should focus on continuous improvement, fair value testing, customer journeys, vulnerability support and turning insights into tangible change.

Supporting sources

  1. Money Marketing

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