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City watchdog to toughen consumer protection rules
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fnlondon.comFinancial services firms must do more to protect consumers, the UK’s Financial Conduct Authority said, as it proposed to strengthen its framework to force businesses to meet a higher and more consistent standard.
Under its plans to revise the Consumer Duty, firms will be required to place a higher focus on supporting and empowering consumers to make better financial decisions and avoid harm. Businesses must meet high standards of conduct, which it said would encourage firms to “compete
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