FCA sets out fresh best practice guidance for vulnerable customers

‘Ensure vulnerability is taken seriously’

Tom Ellis
clock • 2 min read

Fresh guidance to help firms protect vulnerable customers has been published by the Financial Conduct Authority (FCA) in its latest consultation paper.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

How considering vegetable peelers can inform your product design

How considering vegetable peelers can inform your product design

FCA released two reports to mark the third birthday of Consumer Duty

Alison Gay
clock 31 July 2026 • 4 min read
Andy Wealthall: Is there still a place for annual suitability reviews?

Andy Wealthall: Is there still a place for annual suitability reviews?

'We shouldn't solve one problem by creating another'

Andy Wealthall
clock 30 July 2026 • 4 min read
Why the smartest advisory firms are getting ahead of the FCA on non-financial misconduct

Why the smartest advisory firms are getting ahead of the FCA on non-financial misconduct

'September is a starting point, not the finish line'

Gemma McCall
clock 29 July 2026 • 5 min read