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DP18/15 A Duty of Care: Brexit Discussions
17th September 2018
DP18/15 A Duty of Care: Brexit
In July, the FCA published a Discussion Paper on Duty of Care and potential alternative approaches in light of the UK’s exit from the EU.
As detailed in the FCA’s Mission for 2017, the regulator committed to produce a Discussion Paper to explore the merits of ‘a duty of care’ as part of their Handbook Review following Brexit in 2019.
The regulator has stated the “it would be difficult to make extensive changes to the FCA Handbook at the same time as undertaking the major overhaul needed to put the EU Withdrawal legislation into effect”.
The FCA are hoping that the launch of this Discussion Paper, DP18/15, will help them to more fully understand what outcomes a New Duty might be able to achieve and what a New Duty for firms in financial services might do to enhance behaviour in the financial services market.
In particular the regulator is interested in:
Views from all parties with an interest in this issue are invited, which includes:
Views and responses to the FCA’s questions that they pose within DP18/15 should be returned to the FCA by 2nd November 2018.
In addition, the FCA will be holding a firm event on 26 September 2018 plus a roundtable discussion for consumer organisations and their representatives on Tuesday 2 October 2018.
More information about either of the events can be obtained by emailing the FCA at firstname.lastname@example.org
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