UK FCA Consumer Duty (Principle 12 and PRIN 2A)
PRIN 2A.8 to 2A.11: governance and culture, monitoring, redress and product book sales – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

UK FCA Consumer Duty (Principle 12 and PRIN 2A) 2a8-governance-culture: Embed the Duty in strategy, governance, leadership, people policies, incentives and remuneration, with a Consumer Duty champion at board level

What does 2a8-governance-culture require?

A firm must ensure that Principle 12 and PRIN 2A run through its strategy, governance, leadership and people policies, incentives at every level included, and that its governing body and senior management understand and oversee delivery of good outcomes. Staff incentives, performance management and remuneration must not conflict with the Duty; the FCA warns that such structures can cause harm and expects them to be reviewed. The FCA also expects a non-executive director or equivalent to act as Consumer Duty champion supporting the chair and chief executive in raising the Duty in discussions and challenging management, and the senior managers regime maps the Duty to accountable individuals.

Maintained by Gerard Blokdyk

Other controls in PRIN 2A.8 to 2A.11: governance and culture, monitoring, redress and product book sales – UK FCA Consumer Duty (Principle 12 and PRIN 2A)

Query this from an agent

The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.