We support this fundamental review of the FCA's work going
forward. Much has happened in the financial markets even since the
creation of the FCA in 2012. There has been much new insight on how
consumers behave with financial products and services, including
the impact of technology and new processes.
We hope this consultation helps the FCA to
shape a vision and journey that:
- reflects the combined ambition of the FCA and wider Government
for a financial services market that is world-leading, certain,
stable and accessible;
- recognises the progress made by financial services firms and
practitioners in working to get the best outcomes for consumers;
- critically balances consumer needs and protection to maintain
healthy market competition.
We agree that the FCA has a specific role to protect vulnerable
customers, and whilst much focus of late has rightly been on
retirees at risk of financial scams following the introduction of
the pension freedoms, we encourage a broader approach to the issue
of vulnerability in line with the FCA Occasional Paper No. 8.
See our consultation response »