FCA Seeks Government Clarity on Consumer Risk as Industry Pushes Back on Regulations

Following Chancellor of the Exchequer, Rachel Reeves’ Mansion House speech in November 2024, the Financial Conduct Authority (FCA) has requested the Government to clarify how much consumers can be exposed to risk in favour of more growth-focused regulation as the watchdog faces pushback from the sector against its flagship consumer protection program.

Commenting on the request from the FCA to the Government in Law 360, Partner Karl Foster stated that “the risk is that if government guidance is not forthcoming, the FCA will revert to type and be more cautious in its relaxation of the compliance burden.”

Read the full article here: FCA Awaits Government Answer To City Consumer Duty Pushback | Law 360