Do we need a new duty of care in financial services?

On 17 July 2018, the FCA published a paper on its Approach to Consumers (the Approach), accompanied by a discussion paper DP18/5 (the DP) on the possible introduction of a new duty of care and other alternative approaches (a New Duty).

The Approach sets the FCA’s vision for well-functioning markets that work for consumers, and builds on the November 2017 consultation on its Future Approach to Consumers. The aim is to provide greater transparency on when and how the FCA will act to protect consumers, its policy positions on key issues, and its strategy for ensuring that it advances its consumer protection objective with the greatest impact. For our full briefing on the matter, please click here.

 

Jenny Stainsby
Jenny Stainsby
Partner
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+44 20 7466 2995
Karen Anderson
Karen Anderson
Partner
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+44 20 7466 2404
Jon Ford
Jon Ford
Senior Associate
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+44 20 7466 2539

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Filed under Announcements, FCA, Regulatory Reform, Sector Updates by Herbert Smith Freehills, UK, UK Government

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