The FCA has today published a set of potential guidelines for the financial services industry on how to treat vulnerable customers fairly, and launched a consultation on this proposed new guidance.
The FCA wants to see firms “explicitly embedding the fair treatment of vulnerable consumers into their culture”, pointing out that 50% of UK adults display one or more characteristics of being potentially vulnerable.
While fair treatment of vulnerable customers has been at the heart of our culture here at Ascent for many years, with all our team highly trained in this respect, the FCA has found that it isn't consistently the case across the sector, so we very much welcome the FCA's proposals.
The Financial Conduct Authority (FCA) has today launched a consultation on proposed guidance for firms on the fair treatment of vulnerable customers. The guidance sets out the FCA’s view of what the FCA Principles require of firms to ensure that vulnerable consumers are consistently treated fairly across financial services sectors.
