FCA Consumer Duty
The Financial Conduct Authority's outcomes-based regulation requiring regulated firms to act to deliver good outcomes for retail customers across products, services, price, value, understanding, and support.
How it works
Consumer Duty is the FCA's outcomes-based regulation that took full effect in 2023 and continues to drive compliance work across UK retail financial services. It requires firms to demonstrate good outcomes through evidence rather than process, with senior named individuals accountable under SM&CR. For AI deployment in regulated firms, Consumer Duty creates specific requirements around fair value assessment, vulnerability handling, communication clarity, and customer-support sufficiency. AI systems serving retail customers must demonstrably support these outcomes and be auditable when the FCA asks. Ayoob AI builds Consumer Duty-aligned architectures into FCA-regulated client systems, with the technical evidence the firm's SM&CR named individual needs to defend the position.
Related terms
SRA Compliance
The Solicitors Regulation Authority's rules governing UK solicitors and law firms, including outcome-focused regulation on confidentiality, conflict of interest, accountability, and client protection.
Human-in-the-Loop (HITL)
A design pattern in which humans review and approve AI decisions at designated points in a workflow, used for high-stakes or low-confidence cases where full automation is inappropriate.
Private AI
AI deployed on infrastructure the client controls (on-premise, in the client's cloud tenancy, or air-gapped), with no third-party LLM provider in the data path and no inference-time data export.
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