The FCA has today published its Approach to Consumers paper, which is intended to explore the FCA’s approach to regulating retail consumers.
The paper follows the publication of the FCA’s Mission Statement in April 2017, which explained how and why the FCA prioritise, protect and intervene in financial markets. It is the first of a number of papers that the FCA intends to publish, giving further detail about how its approach will be reflected in its wider work.
The paper sets out the FCA’s initial views on its vision for well-functioning markets for consumers and aims to clearly explain how the FCA will work to diagnose and remedy actual and potential harm, giving more certainty about its framework.
The FCA is seeking views on a number of issues including consumer responsibility, identifying vulnerability, and the line between the FCA’s remit and broader social policy issues. The deadline for comments is 5 February 2018.