StepChange responds to new FCA strategy

The FCA has today launched a new three year strategy. Responding to the news,Richard Lane, Director of External Affairs at StepChange Debt Charity, said: “It’s timely and encouraging to see the FCA’s new strategy, which starts to bring to life the ambitious agenda set out in their business plan this year.

“To bring about the paradigm shift that is intended from the impending introduction of the Consumer Duty, as well as to deliver on the important recommendations from last year’s Woolard Review and Vulnerable Customer guidance, we will need to see real changes to the approach taken by firms as well as changes in the way they are supervised. At a time when millions of households are facing rising living costs, it’s heartening to see the proposed laser focus on client outcomes and a strong approach to consumer protection set out in this strategy.”