FCA's vulnerability findings flag lack of tailored training and understanding

Many firms had taken positive action but ‘areas for improvement remain’

Isabel Baxter
clock • 6 min read

The Financial Conduct Authority (FCA) has found that many firms had taken positive action and made good progress in supporting vulnerable clients but found areas for improvement and flagged a lack of tailored training and understanding.

Last year, the regulator set out to review firms' treatment of customers in vulnerable circumstances following its Guidance for firms on the fair treatment of vulnerable customers published in 2021. In its findings released today (7 March), the regulator found that across its work, it was "clear" that the Consumer Duty had driven a "renewed focus amongst firms" on delivering good outcomes for vulnerable clients. Areas of good practice found but regulator finds areas for improvement The FCA found that a small number of firms had effective use of data to monitor outcomes and take acti...

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

FCA looks to drop annual suitability review requirement for ongoing advice services

FCA looks to drop annual suitability review requirement for ongoing advice services

Regulator pushes for ‘periodic’ assessments instead

Isabel Baxter
clock 25 March 2026 • 2 min read
FCA considers trail commission future as it consults on simplified advice

FCA considers trail commission future as it consults on simplified advice

Follows targeted support work

Jen Frost
clock 25 March 2026 • 2 min read
FCA updates incident and third-party reporting rules with cyber-attacks on the up

FCA updates incident and third-party reporting rules with cyber-attacks on the up

Regulator realises attacks are becoming ‘more frequent and more sophisticated’

Isabel Baxter
clock 18 March 2026 • 2 min read