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This 566-word blog post discusses the new best practice guidance published by the FCA to protect vulnerable consumers. Financial advisers have a duty of care when working with all clients but must now put in place additional safeguards when those clients are vulnerable.
Written on 30 July 2020.
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Financial advisers have a duty of care when working with all clients but must put in place additional safeguards when those clients are vulnerable.
Now, the financial services regulator has published new best practice guidance for firms to do more to protect vulnerable consumers.
The Financial Conduct Authority (FCA) explains that more than 24 million people in the UK display one or more characteristics of vulnerability.
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