FCA speech highlights the importance of tailored approaches to consumers' financial wellbeing
The Financial Conduct Authority (FCA) has published a speech by its deputy chief executive, Sarah Pritchard, at The Investing and Saving Alliance (TISA) annual conference. The speech, titled ‘Financial wellbeing goes beyond one size fits all’, outlines the FCA’s approach to supporting consumers’ financial wellbeing through proportionate regulation and targeted reform. Pritchard emphasises that financial wellbeing requires tailored solutions to meet diverse consumer needs, rather than a uniform approach. She also emphasises the FCA's focus on rebalancing risk through 'smarter regulation' rather than deregulation, for example through the upcoming framework for targeted support. Finally, Pritchard explains that the FCA continues its focus on how the Consumer Duty is working in practice and highlights good practice.