In February 2021, the FCA published Finalised Guidance on the fair treatment of vulnerable customers. It held a webinar in May to help firms understand the role they play in treating vulnerable customers fairly.
The FCA has now published answers to the most frequently asked questions from the webinar which cover topics including:
- firms’ actions in treating vulnerable customers fairly;
- how the FCA will supervise whether firms are treating vulnerable customers fairly;
- understanding customers’ needs; and
- practical actions regarding product and service design, customer service and communications.