‘Vulnerabilities, behavioural biases or constrained choices’ have been flagged up as reasons to force the Financial Conduct Authority to pay more attention to consumer protection. This came during debate on amendments proposed to the UK government's Financial Services Bill 2019-21, as the legislation reached the Report stage in the House of Lords. It may heap further pressure on the FCA which is facing ongoing parliamentary scrutiny of its ability to deal with situations in which investors and savers have lost money, with implications for how it may authorise and regulate investment funds in future.
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