Interview with the “Nudge Unit”: behavioural biases and the Consumer Duty // Consumer Duty

Episode 13: The FCA’s Consumer Duty In this episode we interview special guest Ruth Persian from the Behavioural Insights Team (BIT, unofficially the “Nudge Unit”) for her insights into what is perhaps the most interesting and least understood aspects of the Consumer Duty: the requirement to consider behavioural biases.   Ruth explains behavioural biases and the behavioural insights approach, how these biases impact financial decision-making, and how firms can take these biases into account when implementing the Consumer Duty. This episode features Sara Cody (counsel) and Duncan Campbell (senior associate) in our London financial regulation team. BIT is a social purpose company using behavioural science and rigorous evaluation methods to help people and communities achieve better outcomes.  Visit their website to learn more or read their blog post on how a behavioural insights approach can help firms meet the requirements of the consumer duty'. And visit Linklaters’ Consumer Duty webpage for all our insights on the Consumer Duty.