FSCS urges government to prioritise consumer protection

'Further action required'

Julia Bahr
clock • 2 min read

In light of the cost of living crisis severely hitting consumers, the Financial Services Compensation Scheme (FSCS) has called on new prime minister Liz Truss and her government to make consumer protection form a key part of its policy agenda.

The lifeboat fund said it would continue to work closely with them to support their effective delivery. "We will also play our role in supporting the UK's financial services industry by ensuring that the compensation framework gives confidence to consumers to invest with firms and by doing all we can to reduce the harm that ultimately drives up the levy. "It is clear that further action is required to address more of that harm and confront the bad actors that remain in the system - to the detriment of the vast majority. It is vital that the government, the regulatory partners and the ...

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