The FCA has today published its Mission document and consultation ‘Our Future Approach to Consumers’, you can find a copy here.
- Consumers are enabled to buy the products and services they need because the environment in which they are sold is clear, fair and not misleading with a good choice architecture.
- Products: high-quality, good value products and services that meet consumers’ changing needs.
- Inclusion: everyone is able to access the financial products they need and the needs of vulnerable consumers are taken into account.
- Protection: consumers will be appropriately protected from harm.
Hargreaves Lansdown comment: Tom McPhail, Head of policy
"This is good stuff; the FCA clearly recognises the importance of not just regulating financial markets effectively but also looking at how those markets serve the financial well-being of their customers. We are also encouraged to see the Regulator talking about ease of access to financial services and products for consumers; this is not just about helping vulnerable customers, though it is right the FCA emphasises this priority, it is about improving financial outcomes for everyone, right across the UK."
Hargreaves Lansdown will look to make an active contribution to this consultation and the FCA’s work.