Empower consumers' financial decisions through communications innovation - FCA

'Smarter Consumer Communications' feedback statement

Victoria McKeever
clock • 3 min read

The Financial Conduct Authority (FCA) today issued a feedback statement to last year's 'Smarter Consumer Communications' discussion paper, acknowledging the need to be more flexible in both what and how financial services businesses communicate to consumers.

The statement suggested advisers should adapt to incorporate the changing channels and technologies through which consumers engage with information. The FCA said simplifying the information advisers and other financial services firms offer to clients within a digitalised context would encourage more informed consumer engagement and awareness. The regulator explained that information alone was not enough to engage and empower consumers to make their own informed financial decisions, as the traditional paper-based format, in particular, can cause "information overload". The FCA relea...

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