The FCA has confirmed its plans to bring in a new consumer duty, comprising new rules firms will have to abide by.

It will require firms to: end “rip-off” charges and fees; make it easier to switch or cancel products; provide helpful and accessible customer support; provide timely and clear information that people can understand about products and services; and provide products and services that focus on the real and diverse needs of their customers.

Through this, the FCA is aiming to: ...