FCA: Firms must understand and act to help financially vulnerable

Regulatory guidance

clock • 5 min read

The FCA suggested firms use market research to inform a good understanding of the risks of harm for vulnerable clients

The Financial Conduct Authority (FCA) has outlined how firms should better understand vulnerable customers and how businesses must act to improve outcomes for those clients. The guidance, published on Tuesday, aimed to drive improvements in the way firms treat vulnerable customers. It found that 27.7 million adults in the UK now have characteristics of vulnerability. This includes poor health, experiencing negative life events, low financial resilience or low capability. Firms should understand what harms their customers are likely to be vulnerable to and ensure that customers in v...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

UK economy sees weak jobs and wage growth figures

UK economy sees weak jobs and wage growth figures

Inflation genie 'mostly back in the bottle'

Michael Nelson
clock 17 February 2026 • 2 min read
FCA Market Study: PDG 'expected different conclusion' on loaded premiums

FCA Market Study: PDG 'expected different conclusion' on loaded premiums

“We’d like to see greater transparency"

Jaskeet Briah
clock 12 February 2026 • 3 min read
PMI sees highest new complaints for protection: FOS

PMI sees highest new complaints for protection: FOS

Q3 2025/26

Jaskeet Briah
clock 05 February 2026 • 2 min read