This Practice Note considers the application of the Consumer Duty to MCCL firms, and includes details of the scope of the Consumer Duty’s application to MCCL firms, the interaction of the Consumer Duty with pre-existing FCA rules and guidance, the implications for MCCL firms in complying with the cross-cutting rules under the Consumer Duty, the implications for MCCL firms in delivering the four consumer outcomes under the Consumer Duty, areas of potential difficulty for MCCL firms, implications for MCCL firms in implementing the Consumer Duty for closed products, and practical Consumer Duty steps post implementation.