Consumer Duty regulations have now been in place since the end of July, encouraging greater focus on reducing consumer harm and providing good outcomes.
The regulation applies to all firms regulated by the Financial Conduct Authority (FCA) and firms have been working on meeting the rules since it was announced last year.
Consumer Duty proposes changes to both brokers and lenders, applying to products and services, price and value, consumer understanding and support.
The over-arching nature of Consumer Duty means its impacts are wide-ranging, with some brokers concerned about how it will impact the bottom line. A survey earlier this year from Quilter found that nearly half expected profits to fall due to Consumer Duty.
This month, Mortgage Solutions is asking to what extent has the implementation of Consumer Duty changed your working practices?
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
