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May 13, 2025
In February 2021, the FCA published FG21/1, Guidance for firms on the fair treatment of vulnerable customers (‘the Guidance’), and introduced the Consumer Duty in July 2023, which requires firms to act to deliver good outcomes for all customers, including those in vulnerable circumstances. The FCA recognises that this can be complex.
Last year, the FCA set out to evaluate firms’ treatment of customers in vulnerable circumstances, review how firms are supporting customers in vulnerable circumstances, and assess whether its existing guidance is still appropriate.
The FCA has now published its review of firms’ treatment of customers in vulnerable circumstances. This Hot TopICS sets out the FCA’s findings on good practice and areas for improvement.
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