UK FCA Consumer Duty (Principle 12 and PRIN 2A) 2a5-test-monitor-notify: Test communications before use where appropriate, monitor whether they are delivering good outcomes, adapt them when they are not, and notify other firms in the chain of problems and give them information in good time

What does 2a5-test-monitor-notify require?

Where appropriate a firm must test communications before using them and monitor the impact of communications it has made, adapting them where it identifies that they are not supporting good outcomes; the firm's role (author, approver, distributor) determines which testing is appropriate and the purpose, audience, complexity and channel of the communication determine whether testing is needed. Where a firm sees that another chain firm's communication is not delivering good outcomes it must promptly tell that firm. A firm must also supply information promptly to another chain firm where that firm reasonably requests it or where the information is needed for it to meet the Duty.