PA360 Digital: Covid-19 crisis highlights vulnerable client policy importance

Speaking at PA360 Lines said the vulnerable client agenda had been on the regulator's watch list since 2015 and was increasingly important as clients navigate life during the pandemic. He explained a vulnerable client is defined as a person who, due to personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care. Lines said the definition was "very wide" and could challenge firms' current perception of what a vulnerable client looks like. "That wide definition does encompass a lot of people," he said. "Tradit...