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FCA The Consumer Duty July 2023 – Is your Affiliate Network Ready?
FCA The Consumer Duty July 2023 – Is your Affiliate Network Ready?
FCA The Consumer Duty July 2023 – Is your Affiliate Network Ready?
The Consumer Duty is a significant piece of regulation that sets higher expectations for the standard of care firms across the financial services industry give to consumers in retail financial markets.
The Consumer Duty regulation due to take effect from 31st July 2023 is to ensure that regulated firms endeavour to provide good outcomes to their customers it has a set of outcomes which are defined as:
- Quality of products and services
- Price and fair value of products and services
- Consumer understanding
- Consumer support
As the only FCA regulated Affiliate Network Optimise is working with our advertisers and publishers to ensure compliance with The Consumer Duty rules. Any affiliate network’s role in a customer purchasing journey is a critical one to ensure that product’s promotions are presented both within FCA rules and brand expectations.
Through our close relationship and work with advertisers and publishers we gain a good understanding of products and promotions, enabling them to partner with suitable publishers and follow up with regulated compliance monitoring.
Is your affiliate network ready for The Consumer Duty rules? If you would like to understand more about Optimise Affiliate Network get in touch.