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

Why well-run advice firms still shoulder an unfair FSCS burden - and what needs to change

Why well-run advice firms still shoulder an unfair FSCS burden - and what needs to change

Tom Hegarty shares his views on the FSCS levy and why things need to change...

Tom Hegarty
clock 08 January 2026 • 4 min read
FCA Consolidation Review: Key actions for firms navigating M&A

FCA Consolidation Review: Key actions for firms navigating M&A

What does best practice look like?

Professional Adviser
clock 07 January 2026 • 4 min read
FCA removes regulatory permissions from advice firm over breaches

FCA removes regulatory permissions from advice firm over breaches

Ups assets restriction and notes unpaid FOS award

Jen Frost
clock 22 December 2025 • 2 min read