Guidance for firms on the fair treatment of vulnerable customers from FCA

The FCA has released new guidelines for financial services companies when it comes to dealing with vulnerable customers.

To achieve good outcomes for vulnerable customers, firms should take action to:

• understand the needs of their target market/customer base
• make sure staff have the right skills and capability to recognise and respond to the needs of vulnerable customers
• respond to customer needs throughout product design, flexible customer service provision and communications
• monitor and assess whether they are meeting and responding to the needs of customers with characteristics of vulnerability, and make improvements where this is not happening

Click the link below to read the full guidance from the FCA.