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Question 1

when does the fca consumer duty apply from

Answer 1

31 july 2024

Question 2

what are the tiers of the fca consumer duty

Answer 2

act in good faith, avoid foreseeable harm, enable and support retail customers to achieve their objectives (cross cutting rules)

Question 3

what are the 4 areas of the cross cutting rules

Answer 3

products and services, price and value, consumer understanding, consumer support

Question 4

what should be considered in stakeholder management

Answer 4

composition and significance of each group, power that each group can exert, legitimate claims each group may have, degrees to which these claims conflict and significant areas of concern, extent to which org is satisfying claims, overall mission of organisation

Question 5

what are business ethics

Answer 5

standards by which a company or organisation sets itself in its dealing with the organisation and outside within the business and social environment

Question 6

what is shareholder focus

Answer 6

the key responsibility of a business is to look after its shareholders, society can look after itself

Question 7

what is stakeholder perspective

Answer 7

long term interest to take an interest in society beyond what is required by law

Question 8

esg disclosure

Answer 8

companies act 2006, annual disclosures required for larger companies that are listed, >500 employees or £5m turnover