Therese Chambers of the FCA has spoken on how tackling financial crime can lead to increased confidence in the UK financial services marketplace. She quoted the FCA statistic of the number of UK consumers who prefer to keep more than £10,000 in cash savings in preference to investing it – saying there are various possible reasons for this, but that when there has been any bad market experience, people will remember it. So the FCA is looking to show that it will hold offenders to account and make things right for victims. She gave examples of a couple of major enforcement actions, and FCA’s initiatives to increase consumer awareness of scams and how they can protect themselves.
FCA speaks on market confidence
