In the first of a series of Inside FCA Podcast interviews on the Consumer Duty, Ozge Ibrahim speaks to the FCA's Head of Competition Policy, Ed Smith, about the price and value outcome, which he describes as an upfront examination of price and value through the lifecycle of a product as it evolves.
In the interview, Ed explains how the FCA expects firms to assess their products and services, to ensure there is a reasonable relationship between the price paid for a product or service and the overall benefit consumers get from it. Set against the impact of the rising cost of living, Ed explains the importance of this outcome and how firms can best prepare for implementation of the Consumer Duty for new and existing products in July 2023.