FCA told levels of harm to consumers are too high

The feedback comes after the FCA published a consultation paper on its duty of care to consumers. The regulator said it had "a responsibility to consider alternative approaches that might address stakeholder concerns". Some respondents to the consultation told the FCA its current regulatory approach encouraged firms to "tick boxes" and wait to be "found out" by the watchdog, rather than making an informed evaluation to see what would be best for consumers. FCA's Bailey eyes 'lower burden' regulatory regime post-Brexit The FCA also said a number of stakeholders believed real change ...