Sector Regulation Sector Regulation

Financial firms must put consumers first or face enforcement under new UK FCA rules

By Fiona Maxwell
  • 27 Jul 2022 00:01
  • 26 Jul 2022 15:11
Financial services companies in the UK must prioritize their consumers in all decisions under a new policy published today or face enforcement action, including fines or removal of regulatory permissions.

The Financial Conduct Authority’s new consumer duty, finalized today (see here), is based on the overarching principle that a financial services firm “must act

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Fiona Maxwell

Senior Correspondent


Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for Risk.net, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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