Consumer Duty

The Consumer Duty is a regulatory framework introduced by the Financial Conduct Authority (FCA) to prioritise consumer protection in financial markets. The Consumer Duty aims to ensure fair treatment, transparency, and accountability in the financial services sector, promoting trust and confidence among consumers.

The Consumer Duty comprises of three related elements: an overarching Consumer Principle; Cross-cutting Rules which develop the Principle further and describe the standards which all business areas/activities must meet; and four Consumer Outcomes which define the basis of the firm to consumer relationship.


"A firm must act to deliver good outcomes for retail customers."

This is the overarching expectation of conduct and outcomes that the Consumer Duty sets for a firm which manufactures or distributes financial products to retail customers.

The Cross-cutting Rules develop the Consumer Principle further.

The FCA expects compliance with these rules across all business areas/activities.

They require firms to:

Act in good faith.

Avoid foreseeable harm to customers.

Enable customers to pursue their financial objectives.

The Consumer Duty focuses on achieving four key outcomes from firms on behalf of retail customers.

Products & Services

Firms should offer products and services that are suitable for their clients, taking into account their individual circumstances and risk tolerance.

Price & value

As part of providing suitable products and services that meet clients' needs and objectives, Firms should provide clear information about the features, risks and costs associated with these offerings.

Consumer Understanding

Firms should communicate in a clear, fair and transparent manner with their clients, ensuring that information is easily understandable and avoiding misleading or confusing language.

Consumer support

Firms must prioritise their clients interests and act in a way that delivers positive outcomes for them. Special attention must be given to vulnerable clients who may have specific needs or require additional support. Firms should have appropriate policies and procedures in place to identify and address the needs of vulnerable clients, ensuring they are not disadvantaged.

What is Polar Capital doing?

Polar Capital's adherence to the FCA Consumer Duty includes high-quality client service, transparent information, robust complaints handling procedures and ongoing assessments of products, suitable outcomes and ongoing monitoring. We apply the following expectations across the business:

Endeavoring to provide the highest levels of client servicing and provide clear and thorough marketing materials which are of suitable quality and technicality for their target audience.

Provide clear and transparent information about costs, charges and potential risks associated with our products and services.

Regular monitoring and evaluation of client outcomes is conducted to ensure ongoing suitability and to address any potential issues promptly.

We have a dedicated Consumer Duty champion who is part of the Executive Committee. This helps to ensure that business decisions are viewed through the lens of the consumer where applicable.


While the Consumer Duty is a new piece of regulation, we have always prided ourselves on prioritising our customers and delivering excellent service.

We welcome the Consumer Duty and the added focus it provides on aiming to deliver positive outcomes and firmly believe this is an ongoing process.

Culture plays an enormous role in achieving positive outcomes for our clients and Polar Capital seeks to create a collegiate and meritocratic environment, which sees teams work together in pursuit of this.