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Vulnerability: A Guide

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The FCA will be assessing and challenging firms to demonstrate fair treatment of all customers.

They will use the finalised vulnerability guidance to hold firms to account where the principles have been breached.

It is thought that they will be reviewing the action firms have taken in 2023-2024.

The FCA’s definition of a vulnerable customer is as follows;

Somebody who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care.

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