Hargreaves Lansdown comment on FCA’s Consumer Duty

“We welcome the FCA’s intention to use the consumer duty to create more flexibility for firms to compete and innovate in the interests of consumers.  This is exactly what our digital transformation at HL is all about.  We are investing in more tools and nudges to drive better client outcomes.

With the consumer duty in place, we are keen to see the FCA revise its own rule book, to remove regulations which hinder innovation in the interests of consumers.  There is scope for us to personalise guidance to clients to a greater extent, to drive engagement and better outcomes.  We look forward to working with the FCA on this agenda as we embed the consumer duty at HL.”

Chris Hill, CEO, Hargreaves Lansdown