Regulation

FCA hits City firms with vulnerable clients survey

Watchdog puts spotlight on how firms are treating vulnerable clients with 40-question probe as Consumer Duty raises the bar

The FCA launched its flagship Consumer Duty regulations last year Chris Ratcliffe/Bloomberg via Getty Images
The FCA launched its flagship Consumer Duty regulations last year Chris Ratcliffe/Bloomberg via Getty Images

The Financial Conduct Authority has sent City firms a bumper survey on how they treat vulnerable clients as it probes whether they are meeting tougher new rules.

The markets watchdog issued a 40-part questionnaire last month asking for information on everything from how financial services firms identify which of their clients are vulnerable, to how they design products and communications to meet client needs and measure outcomes, according to a copy seen by Financial News.

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