The Financial Conduct Authority (FCA) has vowed to take action where it identifies persistent poor outcomes for vulnerable clients.
Speaking at the regulator's The Vulnerability Review: Findings and next steps event today (1 March) FCA director of consumer finance Alison Walters said while there had been good progress, there was still work to be done. When asked if the regulator was prepared to take action on vulnerability, she said: "Firms are taking it seriously, but there is more to do. "Over the last couple of years, we have spent time talking to hundreds of firms in our supervisory work on preparation, implementation and embedding Consumer Duty. And there is certainly more to do in terms of embedding but when...
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