FCA reveals measures to increase consumer protection in retail markets
Regulator proposes to enhance existing rules around treating customers fairly with the aim to drive a shift in culture and behaviour for firms.
The Financial Conduct Authority (FCA) has set out plans for a new Consumer Duty which aims to increase consumer protection in retail financial markets.
The regulator highlighted that it has seen evidence of practices that cause consumer harm, including businesses providing information which is misleadingly presented or difficult for consumers to understand, hindering their ability to properly assess the product/service.
It added that one on four respondents to its 2020 Financial Lives Survey
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