FCA
publishes update on advice relating to Super Complaint
The
Financial Conduct Authority (FCA) has issued a press release updating on its
work following the Competition and Market Authority (CMA) response to a Super Complaint
from Citizens Advice on loyalty penalties.
The CMA made certain recommendations relating to the cash savings, home
insurance and mortgage markets in its response of December 2018.
The
FCA plans to publish updates on its work relating to fair pricing in financial
services and its consultation on guidance for firms on the fair treatment of
vulnerable customers (GC19/3) later in 2020.
The
FCA has a number of other workstreams including a consultation on new regulation
which would require firms to pay customers single rates for access to cash
savings and ISAs no later than 12 months after an account is opened.
Source:
https://www.fca.org.uk/news/news-stories/citizens-advice-supercomplaint-cma-update
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