FSA reaffirms consumer responsibility findings
In the absence of a consensus, The Financial Services Authority said it will maintain its current approach to balancing the responsibilities of consumers and firms
The Financial Services Authority (FSA) has today issued a feedback statement reaffirming its regulatory approach to balancing the responsibilities of consumers and firms.
It follows a 2008 discussion paper which articulated how the FSA considers consumer responsibility in its decision and policymaking, for example, the intensity of regulation increases in line with the risks posed to customers by different products.
Central to this is the FSA’s obligation on firms to treat customers fairly. The
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