FCA takes aim at bereavement and PoA policies

Good and bad practices released

Cameron Roberts
clock • 3 min read

The Financial Conduct Authority (FCA) has released guidance for retail banks in dealing with vulnerable customers, highlighting bereavement and power of attorney (PoA) as key areas for improvement.

As part of the regulator's ongoing focus on vulnerable customers, it examined the policies, customer needs, outcomes and customer journeys that banks provide to bereaved customers. It highlighted several positive points for the sector, including clear customer policies and procedures; evidence of firms proactively identifying vulnerability; analysis of customer behaviours; and dedicated bereavement teams. It did however say that there were numerous areas for improvement for retail banks. The improvement areas included: customers having to repeat information when speaking to differe...

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

FOS outlines reforms to complaints process

FOS outlines reforms to complaints process

FOS/FCA joint thematic review to come later this year

Isabel Baxter
clock 11 August 2026 • 3 min read
John Healey's first Autumn Budget set for 28 October

John Healey's first Autumn Budget set for 28 October

Government looks to "kickstart growth in every postcode"

Isabel Baxter
clock 03 August 2026 • 2 min read
Just 12 firms recieved FCA bereavement survey: Professional Adviser

Just 12 firms recieved FCA bereavement survey: Professional Adviser

Covers advisers, platforms and wealth managers

Sophia Panayi
clock 30 July 2026 • 3 min read