Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Financial Conduct Authority definition

What does Financial Conduct Authority mean? The Financial conduct authority (fca) is the UK’s statutory conduct regulator for financial services and markets. In legal practice it is central to FCA authorisation and permissions, compliance with the FCA Handbook (including the Principles for Businesses, SM&CR and the consumer Duty), market conduct obligations and enforcement risk. Established by amendments to the Financial Services and Markets Act 2000 (FSMA) made by the Financial Services Act 2012, the FCA replaced the Financial Services Authority in April 2013. It makes rules, supervises firms, and investigates and enforces breaches. The FCA is the conduct regulator for all authorised firms...

FCA Consumer Duty and vulnerable customers: FG21/1 guidance, 2025 review findings, Equality Act interface, and compliance essentials on product design, communications, support and outcomes monitoring

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note examines the financial conduct authority’s (fca) expectations for firms’ treatment of customers in vulnerable circumstances, in line with the FCA’s finalised guidance (FG21/1) on the fair treatment of vulnerable customers, its supporting guidance Delivering good outcomes for customers in vulnerable circumstances—good practice and areas for improvement, and the standards required under the FCA’s consumer Duty. It should be read together with the note on the FCA’s Consumer Duty, The FCA Consumer Duty—essentials, and relevant sector‑specific practical guidance; for links see: Consumer protection and FCA Consumer Duty—overview.

Key points

How firms engage with vulnerable consumers is a primary supervisory and enforcement priority for the FCA.
The Consumer Duty obliges firms to act to secure good outcomes for all retail customers; the FCA is especially focused on achieving positive results for vulnerable customers.
The FCA’s 2025 review of firms’ approaches to vulnerable customers concluded that firms must strengthen outcomes monitoring, customer support, communications, and product and service design, and firms are expected to undertake gap analysis against the FCA’s findings.
The FCA’s guidance for firms on treating vulnerable customers (FG21/1) predates the Consumer Duty; however, the FCA considers...

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Web page updated on 21/05/2026

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