Attempting to read (and grasp) the T&Cs for an investment platform can be a Herculean task, writes Kevin Okell. As the FCA pushes its Consumer Duty agenda now is the time to rethink the mainly unread contractual terms...
There has been a lot of discussion already about the regulator's recent consultation on a Consumer Duty of Care, CP21/13. Broadly speaking, the industry appears to welcome the principle of empathising with clients and putting ourselves in their shoes when designing products and communications. Those communications could certainly do with some attention as anyone who has ever attempted to actually read the T&Cs for an investment platform can attest. I just had a quick look at Hargreaves Lansdown's general terms and conditions (T&Cs), which weigh in at a little over 28,000 words. Tha...
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