City of London minister 'scathing' over FCA's Consumer Duty rules - reports

Valeria Martinez
clock • 2 min read

City of London minister Andrew Griffith has raised concerns that the Financial Conduct Authority's Consumer Duty rules could harm the financial services industry and lead to a flurry of lawsuits, putting him at odds with the regulator.  According to a report by the Financial Times, at a recent private dinner with senior members of the industry, one insider in the sector told the newspaper that Griffith was "scathing" over the reform. Another source said he had harshly criticised the FCA's consumer protection overhaul. Sources claimed that Griffith is concerned that Consumer Duty will ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?