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The treatment of vulnerable customers by regulated firms has been a longstanding area of focus for the FCA. Consumer Duty has further highlighted the importance of treating vulnerable customers fairly and appropriately, as this principle is woven throughout the Duty’s framework. Currently, the FCA is conducting a review of how firms manage their vulnerable customers, with findings expected to be published later this year. This may include further guidance and targeted supervisory reviews concerning vulnerable customers.
In anticipation of the publication of the FCA’s findings, we thought it would be helpful for regulated firms to learn about what makes a vulnerable customer, and why the FCA is concerned about such customers. This webinar also provided practical guidance firms can take on board on how to manage their regulatory expectations.
The webinar concluded with a Q&A session, allowing attendees to submit questions for our speakers.
Agenda
- What is a vulnerable customer?
- Why the FCA is concerned about vulnerable customers?
- What might cause a customer to be vulnerable?
- What do you need to do in terms of identifying and dealing with vulnerable customers?
- How should you record vulnerable customer information while keeping in line with GDPR regulations?
- Q&A
