FCA initiatives ring true for consumers

Michael Worledge

This week, the FCA launched its Business Plan for 2018/19, setting out its priorities for the next year.  The FCA’s objectives ensure it acts in the public’s interest, including securing appropriate protection for consumers and promoting effective competition in consumers’ interests. In light of this, we asked the UK public to give us their views on the FCA’s initiatives.

EU Withdrawal & Cross-Sector Initiatives

At least 50% of the public view each of the FCA’s seven cross-sector initiatives as well as its focus on preparing for and implementing changes related to Brexit (73%) as very or extremely important. Those deemed most important relate to tackling financial crime/money laundering (84%) as well as data security and technology resilience (82%).

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Detailed Initiatives

Again, there is widescale endorsement of the detail of the FCA’s plans. Of the 25 initiatives rated in our survey, only ‘promoting the deadline for PPI claims’ had less than half (40%) seeing it as very or extremely important.

Those initiatives which focus on retail lending, how firms use customers’ data, and those which mitigate against consumer detriment from fraud, scams, unsuitable advice and claims management companies are generally those with the highest endorsement levels.

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The public have given the thumbs up to what the FCA are doing. Now, the industry has to deliver.

If you wish to discuss the results, have access to the full data or would like to run a similar survey amongst your own customers, please contact us.

This survey was conducted amongst 1008 UK adults on the afternoon of Tuesday 10th April using our extremely quick and easy to use Harris 24 online platform.

  • FCA
  • Harris 24