Consumer Duty
Systematically demonstrate fair outcomes and value with StarCompliance.
The Cost of Non-Compliance
Regulatory bodies around the globe aren’t letting up and the cost of non-compliance can run into the billions, and that’s only the financial impact.
£176M
Fines Issued by FCA in 2024
Consumer Duty
At A Glance
The Consumer Duty Act requires firms to proactively focus on customer outcomes—not just compliance—raising the bar for consumer protection within the retail financial services space. StarCompliance Enterprise delivers a centralized, automated solution that streamlines oversight and ensures compliance with Consumer Duty—helping firms consistently deliver better customer outcomes.
Related Solutions
Automate and standardize sales oversight to ensure every interaction meets compliance and conduct standards.
Meet regulatory requirements across the UK, Singapore, Ireland, and Australia.
Track employee training, manage certifications, and ensure ongoing compliance through customizable oversight and reporting.
Webinar
The Consumer Duty’s ‘Minimal’ Impact on SMCR and How It’s Not So ‘Minimal’ At All
Sara Cody of LinkLaters LLP joins Star to shed light on what should be happening and the significant impact Consumer Duty truly has on SMCR. Get critical guidance and direction for ensuring your business can support Consumer Duty in the long term.
Consumer Duty Compliance With Star
SMCR & Consumer Duty
Demonstrate clear accountability and alignment with FCA expectations.
Consumer Duty requires firms to show that senior managers and conduct rule staff are acting to deliver good outcomes for retail customers. With Star’s SMCR Individual Accountability solution, firms can:
- Update Conduct Rule Attestations – Configure forms to include the new Rule #6 requirement to deliver good outcomes for retail customers.
- Track Breaches Systematically – Capture and report breaches against Consumer Duty obligations using integrated breach management workflows.
- Assign a Consumer Duty Champion – Designate and document responsibility in the SMR module with Reasonable Steps tracking, ensuring regular oversight and auditability.
With STAR, firms can evidence accountability, assign responsibility, and maintain audit-ready records that align with Consumer Duty’s heightened focus on customer outcomes.
Training & Competency & Consumer Duty
Evidence staff competence and oversight of customer outcomes.
Star’s Training & Competency solution helps firms meet Consumer Duty by embedding structured monitoring and training records across the organization. With T&C, firms can:
- Capture Training & Remedial Actions – Maintain clear records of training, knowledge gaps, and corrective actions to demonstrate competence in delivering fair outcomes.
- Analyze Complaints & Trends – Track complaint volumes and root causes to identify systemic risks and improve consumer support.
- Audit Promotional Material Approvals – Generate approval trails for financial promotions, ensuring communications are clear and easy to understand.
By centralizing evidence of staff competence and oversight, Star enables firms to confidently demonstrate compliance across all four Consumer Duty outcomes: products & services, price & value, consumer understanding, and consumer support.
Sales Compliance Review & Consumer Duty
Embed structured oversight to evidence fair value and good outcomes.
Consumer Duty requires firms to demonstrate that customers receive suitable products, fair value, clear communications, and ongoing support. With Star’s Sales Compliance Review solution, firms can:
- Standardize Case Reviews – Apply automated, rules-based sampling and QA workflows to ensure consistent oversight of sales activity.
- Surface High-Risk Cases Early – Use configurable risk scoring to flag cases where pricing, product suitability, or adviser behavior may undermine good outcomes.
- Evidence Customer Fairness – Maintain a complete, audit-ready trail of reviews, remediation, and outcomes to show regulators that sales processes support Consumer Duty principles.
By systematizing sales oversight and centralizing review records, Star helps firms clearly evidence compliance with Consumer Duty across all four outcomes—products & services, price & value, consumer understanding, and consumer support.
Consumer Duty Best Practices
Here are a few steps you can take to drive continuous firm success:
Closely monitor Consumer Duty compliance and make adjustments to operations and policies as needed
Get to know your customers through consumer research
Define positive customer outcomes
Review existing customer journeys and processes to ensure Consumer Duty alignment
Make sure your employees fully understand Consumer Duty requirements and expectations
Establish and implement FCA Consumer Duty policies and procedures
Create role-specific employee training materials and courses to cultivate and maintain a culture of compliance and drive good customer outcomes
Analyze complaints and root causes to identify risks and improve consumer interactions and support
On-Demand Configurability
Extensive workflows are highly configurable, powered by conditional logic.
Multi-Jurisdictional
Tailor time zone, currency, language, and more for global employees.
Intuitive UX
Drive employee adoption with ease and simplify employee access via standard authentication and/or single sign-on.
Actionable Intelligence
Quickly and easily get real-time analytics through customizable dashboards and reports.
Multi-Layered Protection
Safeguard sensitive data with multi-layered access rights based on division, department, role, location, and more.
Future-Ready Architecture
Gain a 360-degree view of your employee compliance anywhere with scalable, cloud-ready software and integrations with Snowflake, Thoughtspot, and PowerBI.
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FCA Raises The Bar For Senior Management Applications
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Complying With FCA’s Supervision Priorities
