FCA Makes Consumer Protection Top Priority For 2022

By Najiyya Budaly (January 4, 2022, 11:38 AM GMT) -- The Financial Conduct Authority has said that it will continue to prioritize its work on protecting consumers in 2022, and will introduce sweeping rules requiring finance companies to act in the best interests of customers as it aims to become more assertive.

The City watchdog plans to bring in a new "consumer duty" rule by July 2022 to help ensure a "more consistent standard of consumer protection" for people using financial services companies. The rules will force all regulated companies to act in the best interests of consumers.

The FCA has said that it has seen evidence that finance companies are...

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