Panel launches four pillars to improve consumer protection

The FSCP believes there is now a huge opportunity to put consumers at the heart of the legislative and supervisory agenda throughout Europe, a key driver of financial services reform. It has set out four principles - access, value, redress and policing - which could be used to test any new regulatory or legislative measures in order to enshrine the consumer perspective in new and developing legislation. Under the principles, the FSCP wants to see universal and "real" access to financial services. It also wants financial services to offer value to the customer, with charges and cost...