Image:
The regulator said its more developed proposals for new rules will tackle the causes of harmful practices.
The Financial Conduct Authority (FCA) has put forward a number of consumer duty proposals to drive a shift in the mindset of firms, however, some industry experts have raised concerns the plans remain "somewhat theoretical and woolly."
The plans are based on the regulator's concerns that some financial services firms do not work well for consumers. The regulator said the proposed rules would ensure a higher and more consistent standard...
To continue reading this article...
Join Professional Adviser
- 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.
- Tap into our community intelligence through our regular Pro Adviser poll.
- Be the first to hear about our events and awards programmes.
