UK: Financial Conduct Authority Consults on Draft Guidance for Fair Treatment of Vulnerable Consumers

On July 23, 2019, the Financial Conduct Authority (FCA) released a draft guidance paper on the fair treatment of vulnerable customers, aiming to provide clarity on its expectations regarding the way that firms across all regulated sectors should interpret its principles for businesses, which are part of the FCA Handbook.

The proposals, as put forward by the FCA, are of interest and mainly addressed to all FCA-regulated firms (including electronic money issuers and payment service providers) and their appointed representatives, industry groups and trade bodies, consumers and consumer organisations and organisations that promote the interests of vulnerable people, as well as consumer advisors.

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial