The UK Financial Conduct Authority (FCA) announced on 1 October 2025 its intention to ease certain requirements under its “Consumer Duty” rule, which has been in force for two years. The rule currently obliges financial and payment services firms to demonstrate ongoing customer benefit for every product offered. The FCA’s new proposal would exempt purely wholesale operations from this obligation and aims to clarify responsibilities where multiple firms are involved in delivering a service. According to UK Finance, the industry body, this development is seen as a positive move towards reducing regulatory burden while maintaining protection for retail customers. Formal consultation is expected soon, and any legislative changes would require approval from HM Treasury. Source: Financial Times.
Key Points:
- The FCA seeks to modify the Consumer Duty rule for financial and payment service providers.
- Planned exemptions apply to wholesale-only activities, not retail-facing products.
- Responsibilities will be clarified when several firms collaborate on one service.
- Industry response indicates support for reduced regulatory complexity, provided consumer protections remain.
- Changes are subject to a formal consultation and Treasury approval.
| Date | Topic | Relevance for Casino Players |
|---|---|---|
| 1 Oct 2025 | FCA proposes adjustments to Consumer Duty rules | Could affect how payment providers and online casinos demonstrate customer benefit and cooperate with each other |
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