Data protection is no barrier to collect and share vulnerability data: FCA

In a joint statement, the regulator said all personal information processed for monitoring customer outcomes must be done in compliance with data protection law. The statement reiterated the FCA's expectations for firms to deliver good outcomes for retail consumers in vulnerable circumstances, in line with the Consumer Duty, while "maintaining confidence in the lawful, fair and responsible use of personal information" in line with the ICO expectations. According to the FCA, effectively monitoring customer outcomes is key to firms being able to support those in vulnerable circumstances...