FCA sets out fresh best practice guidance for vulnerable customers

The guidance follows the regulator's Financial Lives survey, which found that almost half of UK adults (24.1m people) display one or more vulnerable characteristics. They are people who, due to personal circumstances, are especially susceptible to harm, particularly when a firm does not act with appropriate levels of care. Such characteristics may be related to health, capability, resilience or be impacted by a life event. The watchdog also emphasised the impact of coronavirus on vulnerable customers, highlighting the fact the pandemic will have "significantly" increased the number an...