One firm estimated IT costs of £1m a year alone
Considered prescribing how firms should support ‘vulnerable consumers’
Continued appetite and momentum in M&A space
Regulator will look to amend existing rules
Firms could generate up to £499 in revenue per customer
FCA working with Information Commissioner’s Office on solutions
FCA urges firms to treat all recipients of targeted support as retail customers
Proposes to exclude products subject to marketing or distribution restrictions
Firms must signpost consumers to MoneyHelper’s annuities comparison tool
Targeted support costs allocated to LDII funding class