What is the FCA's 'Consumer Duty' and when did it take effect?
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A
A duty requiring consumers to disclose all assets when taking financial advice, effective 2020
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B
A higher standard of consumer protection requiring firms to deliver good outcomes for retail customers in four key areas, effective July 2023
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C
A requirement for consumers to pass a knowledge test before investing, effective 2022
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D
A duty placing fines on consumers who misrepresent their financial position, effective 2021