Regulatory Alerts2020-07-21
Added
FS20/12: Intergenerational differences: summary of responses and next steps
The Financial Conduct Authority concludes that it is not appropriate or proportionate to pursue bespoke remedies, including rule changes, in response to findings on intergenerational financial differences. Instead, the regulator will apply project findings to its wider work by linking them to four external priorities in its Business Plan 2020/21 and using future consumer and economic research to re-evaluate generational needs over time. The document identifies specific gaps in market provision, such as the need for better support for increased consumer risk exposure, more hybrid and flexible products, and improved access to lending for certain segments, while noting that issues regarding long-term care funding and savings levels fall beyond the regulator's remit.