UK: Financial Conduct Authority Launches Public Debate on Fair Pricing in Financial Services Sector

On October 31, 2018, the Financial Conduct Authority (FCA) released a discussion paper seeking feedback on the authority’s approach when assessing the fairness of certain pricing-related practices prevalent in the financial services market. The FCA is also interested in receiving feedback regarding the need, if any, for the FCA to intervene and address potential unfair practices.

The consultation is mainly addressed to consumers groups and retail financial firms; however, consumers who pay for various financial services products may also wish to have an input on the pricing practices observed in the market.

The paper distinguishes between two pricing practices:

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