Joint statement on data protection and effective communications to consumers issued by three regulatory bodies

On November 15, 2024, the Information Commissioner’s Office, the Financial Conduct Authority and the Pensions Regulator published a joint statement on data protection and effective communications to consumers. 

This follows feedback from retail investment firms and pension providers that they would benefit from further regulatory clarity about how the Regulator’s Code of Practice and guidance on communications requirements and the Authority’s Consumer Duty interact with direct marketing rules under data protection law and regulations. 

The statement is designed to provide greater clarity for firms and pension scheme trustees or managers to support their customers’ decision-making through their communications.

For more detail, see our online article here.