Legal Guidance and Research / Experts / Lucy Tolond
Lucy Tolond#11190

Lucy Tolond

DWF LLP
Lucy specialises in defending claims for professional negligence against accountants, tax advisers, financial advisers, insurance brokers, mortgage intermediaries, insolvency practitioners, pension professionals and trustees. She also regularly advises insurers on coverage issues.

Practice Area

Panel

  • Contributing Author

Qualified Year

  • 2007

Experience

  • BLM (2009 - 2021)
  • Pinsent Masons (2007 - 2009)
  • BLM (2005 - 2007)

Qualifications

  • LPC (2004)
  • PgDL (2003)

Education

  • College of Law, York (2004)
  • Newcastle University (2000)

1 Contributions by Lucy Tolond

FCA Consumer Duty: complaints handling, RCA and data, board oversight, foreseeable harm and FOS redress expectations
PRACTICE NOTES
FCA Consumer Duty: complaints handling, RCA and data, board oversight, foreseeable harm and FOS redress expectations
In March 2026, the FCA published FG26/2: Good and Poor Practice on identifying harm. FG26/2 sits alongside broader regulatory changes aimed at modernising redress and complements the Consumer Duty material in FG22/5 Final non-Handbook Guidance. This Practice Note is currently in the process of being revised to take full account of this development. See: HMT and FCA outline planned reforms of the FOS. The Financial Conduct Authority’s (FCA) Consumer Duty (the Duty) applied from 31 July 2023 for open products, and from 31 July 2024 for closed products, establishing heightened protections by obliging firms to act to secure good outcomes for retail clients. The Duty is anticipatory, requiring firms to embed customers at the centre of their operations, and to provide products and services that are suitable and offer fair value. This also entails the ongoing tracking, careful evaluating, and prompt addressing of claims and complaints. This Practice Note explores what the Duty means for firms’ complaint handling strategies, with particular emphasis on the FCA’s observations following its 2024 Consumer Duty thematic review covering complaints and root cause analysis. For detail on the core components of the Duty, see Practice Note: The FCA Consumer Duty—essentials. For key developments relating to...
Financial Services
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