Mortgages, pensions, investments and loans must have duty to customer, says UK’s financial watchdog
New plans from the City regulator to compel financial firms to act in the best interest of customers have been welcomed by consumer groups.
A new “consumer duty” outlined by the Financial Conduct Authority (FCA) will apply to a range of products, including mortgages, credit, pensions and investments, and require firms to consistently focus on the outcomes for their customers.
