The FCA has launched a public debate on the fairness of pricing practices in financial services, adding it would be considering the harm that may be caused by particular types of pricing in what it called a "complex issue".
In its discussion paper, Fair Pricing in Financial Services (DP18/9), published today alongside the findings of its work on pricing practices in the retail general insurance sector, the Financial Conduct Authority (FCA) said it wanted to take into account stakeholder views on its approach so it was confident whatever action it took on difficult cases was in the public interest. The regulator said it would be focusing on two types of practice: firms charging different prices to different consumers based solely on differences in consumers' price sensitivity, also known as ‘price discrimina...
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