In July 2022, the Financial Conduct Authority (FCA) published final rules and guidance implementing a new Consumer Duty that aims to set higher and clearer standards of consumer protection and improve outcomes for consumers across financial services.
The purpose of the joint paper entitled ‘Guidance on Application of the FCA Consumer Duty to Securities Lending’, by ISLA & Clifford Chance, is to provide an overview of the scope of application of the FCA’s Consumer Duty rules and guidance, focusing on how these requirements apply in respect of typical agency securities lending scenarios as further described.
To access and download the full guidance, please click here.
