Vulnerable customers – understanding and meeting the FCA’s guidelines

Fair treatment of vulnerable customers has been a longstanding concern for the FCA .

The FCA has released the Finalised Guidance (FG21/1).

It sets out its view of what firms should do to comply with their obligations under the Principles and ensure they treat vulnerable customers fairly.

To briefly summarise, there are six key actions you will need to take to ensure you are treating customer fairly:

1. Understand customers needs