FCA vulnerability enforcement action


A timely reminder for all regulated firms to re-focus on improving culture within businesses The FCA’s recent enforcement action [TR19/1], focusing on customer vulnerability, in the debt management sector should be a ‘wake up’ call for all regulated firms. Within TR19/1, the FCA recognised that many debt management firms (like many firms in all regulated sectors) meet their standards, treat new and existing customers fairly, and deliver appropriate outcomes. However, now is a good time for all regulated firms to refocus their attention on vulnerable customer policies and procedures. It is not surprising that the regulatory focus of many compliance…

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Partner - Baxters Business Consultants - a business consultancy undertaking marketing, training, freelance journalism and expert witness services to the residential mortgage lending, building society and financial service industry (April 1993 to date) - www.baxtersbc.co.uk.

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