Consumer Duty annual board report
Consumer Duty board report: board or equivalent reviews and approves a report on retail customer outcomes, confirms compliance with the Duty and agrees any actions.
Who it is owed to
- Owed to
- The Financial Conduct Authority
- Source
- FCA Consumer Duty rules (PRIN 2A)
- Official page
- fca.org.uk
- Applies
- Directly FCA authorised
Checked against the Financial Conduct Authority's official page on 14 October 2026. Not legal advice.
What has to happen, and when
- When
- At least once a year; first was due 31 July 2024; later dates firm-specific
- Evidence usually kept
- Signed report, board minutes, action log
- Usually owned by
- Compliance lead
What goes wrong
The FCA says it will review a broad sample of board reports and publish what it finds. Where firms fall short, it says it will prioritise the most serious breaches and take robust action, such as interventions or investigations.
Source: fca.org.uk
How the register holds it
- One item owed to the FCA, with a compliance lead as its owner and a due date set from the rule above.
- The owner commits to a date the first time they open it, and the evidence (signed report, board minutes, action log) is attached before it can be marked done.
- A manager confirms it, a reminder goes by email before it falls due, and the item's history cannot be edited or deleted.
Also owed to the FCA
Every obligation in the UK franchised dealer register
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