Today (July 31) also marks consumer duty coming into force for closed products and services.
Thomas highlighted how this would bring its own sets of challenges but the approach needed to be the same as it has been for its open-ended counterpart.
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“We all know there will be some issues with going back through historic data, looking at historic agreements and so on. But I think if the same spirit of challenge and inquiry that is applied by the best firms across our operations can be applied by all firms, my job becomes much easier, and I will receive a lot fewer complaints, which I look forward to,” she said.
alina.khan@ft.com
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