UK: FCA Publishes Papers Outlining Measures to be Taken for Protection of Consumers in the Financial Sector

On July 17, 2018, the Financial Conduct Authority (FCA) published two documents, the Approach to Consumers paper and a discussion paper on the Duty of Care, by means of which the authority sets out the steps it will take to enhance the consumer protection framework and the way this will be achieved, while exploring the existence of any potential regulatory gaps that need to be filled.

Following a consultation in November 2017 and taking into account the comments received, the FCA in this approach paper is seeking to clarify the following, among other things:

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