FCA re-examines duty of care as report warns customers at risk of harm
The regulator published a feedback statement which revealed most respondents believe there needs to be change to better protect financial services customers.
A Feedback Statement examining the duty of care for the Financial Conduct Authority (FCA) has learned that the majority of respondents to a discussion paper published in July last year think that levels of harm to consumers are high and there needs to be change to better protect them.
As a result of the feedback the FCA received and its early analysis, it has identified options for change that are most likely to address potential deficiencies in consumer protection.
These are:
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