FCA clamps down on consumer protection breaches
Nearly 10% of firms see application for consumer investments blocked, data reveals
The UK’s Financial Conduct Authority has warned financial services firms to review their regulatory permissions or risk losing them, as new consumer protection data was released.
According to a report published January 18, incorrect or out-of-date permissions can mislead consumers about the level of protection offered by firms or give credibility to unregulated activities.
Sheldon Mills, executive director for consumers and competition, said the FCA was now asking firms to review their
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