Morning, Monday, 20th October 2025
Online
This conference will examine next steps for consumer protection and standards in financial services for UK retail.
It will bring together stakeholders and policymakers to consider the way forward against the backdrop of major policy focus on refining the application of the Consumer Duty and streamlining financial services regulation - with the Chancellor having instructed the Financial Conduct Authority to report on the impact of the Duty on wholesale financial firms by the end of September, as part of the Financial Services Growth and Competitiveness Strategy.
Regulatory reform
Delegates will assess next steps for reforming the Consumer Duty regime, including how meaningful support for consumer outcomes and market confidence can be achieved, while promoting responsible innovation, efficiency, and sustainable growth. The balance between safeguarding consumer protection and simplifying the regulatory burden on firms will be discussed, with the Financial Conduct Authority committing to streamline requirements to reduce regulatory costs and provide greater clarity on expectations for firms.
Areas discussion include the Government’s consultation on reforming the Consumer Credit Act 1974, and assessing the proposed approach to bring deferred payment credit lending - Buy Now Pay Later - into regulation. Delegates will assess priorities for the new regime, including its ability to enable firms to compete on transparency, simplicity, and customer experience, as well as implications for consumers and future innovation. Attendees will also consider sector-specific approaches, including the Financial Conduct Authority’s recently published Policy Statement: Mortgage Rule Review - particularly around affordability assessments and enabling consumers to switch more easily between products - as well as recent consultations on simplifying insurance rules.
Targeted support and simplified advice
The agenda will also examine the ongoing Advice Guidance Boundary Review and its potential implications for targeted support and simplified guidance, particularly in pensions and investments. We expect discussion on progressing the readiness of firms to apply data-driven improvements and adapting governance systems to meet the expectations of a streamlined regulatory regime.
Financial inclusion
Delegates will also consider the forthcoming Financial Inclusion Strategy and its alignment with broader regulatory priorities. Attendees will consider latest thinking on approaches to improving access to affordable credit, banking, and insurance services - particularly for excluded and underserved groups. Frameworks for coordination between government and the financial sector will also be discussed, looking at delivery of practical interventions, such as support for community finance initiatives and the development of alternative insurance models.
Further sessions assess implications of data on regional inequalities and customer vulnerabilities - informed by the Financial Conduct Authority’s recently published Financial Lives 2024 survey - with discussion on wider implications for enhancing financial resilience and promoting equitable economic participation.
Redress frameworks
Modernising redress frameworks will also be discussed, including recent proposals by the Financial Conduct Authority and Financial Ombudsman Service to reform dispute resolution rules, such as extending company response times and introducing fees for mass complaints by claims management companies. Delegates will also examine proposals to reform the legislative framework in which the Financial Ombudsman operates, including the impact on dispute resolution services and outcomes for consumers.
Overall areas for discussion
- next steps for Consumer Duty reform:
- review of impact on wholesale firms - impact of FS25/2 on firm compliance
- implications of retiring outdated guidance - priorities from the Financial Conduct Authority’s summer 2025 summit
- Financial Conduct Authority’s Strategy 2025-2030: implementation - growth mandate in the context of consumer protection - innovation in regulated retail products - alignment of outcomes with the Consumer Duty
- development of redress mechanisms: aims of Financial Conduct Authority and Financial Ombudsman Service review of Dispute Resolution Complaints rules - pressures from mass complaints - concerns over claims management companies - proposals to reform the Financial Ombudsman Service
- access to affordable financial products: gaps in credit, banking, and insurance provision - priorities for inclusion in the new Financial Inclusion Strategy - role of fintech and digital services
- integration of advice and guidance: progress on the Advice Guidance Boundary Review - scope of targeted support in pensions and investments - priorities for the Money and Pensions Service in boosting financial capability
- equitable access to finance: next steps for the Disability Finance Code - access for disabled and female entrepreneurs - links to wider growth and social equity goals
- data on consumer vulnerability: lessons from Financial Conduct Authority thematic reviews - priorities for improving reporting from smaller firms
All delegates will be able to contribute to the output of the conference, which will be shared with parliamentary, ministerial, departmental and regulatory offices, and more widely. This includes the full proceedings and additional articles submitted by delegates.
