FCA re-examines duty of care as report warns customers at risk of harm

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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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