Vulnerable Customers in Financial Services

We are delighted to invite you to a Pinsent Masons webinar on vulnerable customers within the financial services sector.

The Covid-19 crisis poses an unprecedented challenge to the way financial services retail firms, such as banks, operate and deal with their customers. One of the most acute challenges of the pandemic will be the fair and compliant treatment of the ever-increasing population of vulnerable customers. With this, comes potentially serious regulatory risks that firms will need to be alive to and mitigate proactively. The consequence of not doing so may result in increased FCA scrutiny, FOS exposures, customer claims negative PR, as well as other risks. Where systemic problem in this regard are identified, they will require appropriate and proportionate responses.

The session will cover:

• Overview of the FCA and FOS approach to vulnerable customers
• How has this changed due to Covid-19?
• What are the exposures to firms and how can these be addressed and mitigated?