And we’ve never made a distinction between vulnerable customers and any other kind – to us, everyone is deserving of the clearest possible information.īut rest assured, we’ll continue to maintain our high standards and make sure you know exactly what you’re getting from us. To blow our own trumpets, we’ve always done our best to keep things clear and simple, so everyone understands us. And of course, we’re more than happy to adopt such strict principles regarding our own conduct. Central to the new legislation is the drive to improve ‘consumer understanding’.Īs champions of clear information and consumer clarity, we naturally welcome such legislation.
So, soon enough, it’ll be much harder for firms to confuse you with badly written or baffling information. This is very important news at any time – especially so during a cost-of-living crisis, when money is tight, and the need for clarity has never been greater. Over the next 12 months, new ‘consumer duty’ rules will be imposed that will further prevent firms from misleading customers. They’ve pledged to push firms to ‘act to deliver good outcomes for customers’. In a big win for you, the consumer, the FCA (Financial Conduct Authority) has set out further legislation to protect customers – including protection against misinformation and unclear language. Consumer duty and vulnerable customers – FCA’s push for plain English information
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