The FCA conducted a review to evaluate the relevance of its existing guidance, in addressing the needs of vulnerable customers. Vulnerable circumstances can impact how individuals interact with firms, increasing their susceptibility to harm. Research, including the Financial Lives survey, highlighted both positive examples of support and ongoing challenges, especially for customers with multiple vulnerability characteristics.
Stakeholders, including firms, trade associations, consumer organisations, and academics, affirmed the usefulness of the guidance. Consequently, the FCA decided not to revise the guidance or impose new requirements. Stakeholders recommended more case studies to assist firms, prompting the FCA to publish . . .
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