The compliance cost problemThe Consumer Duty didn’t arrive in isolation. The Consumer Duty has, if anything, improved outcomes for this group through better fee transparency and clearer communication. The fair value paradoxThe Consumer Duty requires firms to demonstrate that their products offer fair value. Vicky Pearce: Making Consumer Duty evidence countIn the specialist SIPP market, fair value is harder to define. Others have responded by raising fees to reflect the true cost of compliance, which then creates a different fair value challenge.