Consumer protection and FCA Consumer Duty

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This Overview is a guide to the Lexis+® UK Financial Services content within the Consumer protection and the Financial Conduct Authority’s (FCA) Consumer Duty sub-topic, with links to appropriate materials. It focuses on those aspects of regulation in the UK which relate specifically to the FCA’s Consumer Duty (Principle 12) and Treating Customers Fairly (TCF) (Principle 6) of the Principles for Businesses (PRIN) (see PRIN 2.1.1 R), in addition to firms’ regulatory obligations towards vulnerable customers.

The UK’s regulatory structure comprising the FCA and Prudential Regulation Authority (PRA), combined with international moves to shore up global financial stability and regulation, means that all regulatory bodies are, directly or indirectly, working towards consumer protection. In the UK, the FCA has a statutory duty to protect consumers under the Financial Services and Markets Act 2000 (FSMA 2000) and takes the lead in consumer protection in financial services. The FCA’s Consumer Duty and its previous initiative in this area, the concept of Treating Customers Fairly (TCF), are flagship policies of this objective.

UK consumer protection financial services regulation sits within a larger

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Latest Financial Services News

OFSI amends General Licence INT/2025/7895596

The Office of Financial Sanctions Implementation (OFSI) has amended General Licence INT/2025/7895596 to extend coverage to two additional Lukoil Bulgaria subsidiaries: Lukoil Aviation Bulgaria EOOD and Lukoil Bunker Bulgaria EOOD. The licence, originally issued on 14 November 2025 under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855 permits continuation of business operations with designated Lukoil Bulgaria entities.

Commission proposes streamlined SFDR rules to simplify ESG disclosures

The European Commission has proposed amendments to the Sustainable Finance Disclosure Regulation (SFDR) (Regulation (EU) 2019/2088) to simplify and improve transparency rules for sustainable financial products. The reform aims to make disclosures shorter, clearer and more comparable for investors, reduce compliance costs for financial market participants (FMPs) and enhance the EU’s competitiveness in sustainable finance. These proposals follow a review by the Commission which found the SFDR’s current framework too complex and lengthy, hampering investors’ ability to understand and compare products and contributing to risks of greenwashing and mis-selling.

HM Treasury publishes draft SI and policy note for T+1 securities settlement transition

HM Treasury (HMT) has published a draft statutory instrument (SI)—The Central Securities Depositories (Amendment) (Intended Settlement Date) Regulations 2026—alongside a policy note, outlining plans to implement T+1 as the standard settlement period in the UK from 11 October 2027. Published ahead of its formal introduction to Parliament, the draft SI aims to support stakeholder preparations by clarifying how the T+1 requirement will apply. The policy note explains the legislative context, approach, and practical implications of the draft, and sets out the government’s views on issues not directly covered by the legislation. Technical feedback on the draft is sought by 27 February 2026.

Financial Services—other developments (20/11/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

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