Regulatory Alerts2025-03-28
GFSC Guidance Note on Fair Treatment of Vulnerable Customers
The Gibraltar Financial Services Commission issued this guidance to require regulated firms to ensure the fair treatment of vulnerable retail customers under the Financial Services (Core Principles and Consumer Duty) Regulations 2024. Firms must understand the specific needs and risks within their customer base, equip staff with appropriate skills, and design products and services that avoid harmful impacts. The regulator will monitor compliance by assessing firm culture, business models, and outcomes to prevent harm to consumers susceptible to disadvantage.
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