As the economic climate deteriorates and the cost of living increases, how will regulators sharpen their focus upon consumer protection?
In the UK, the new Financial Services and Markets Act will impose a new statutory obligation upon regulators to protect and promote London as a financial centre. We see the FCA promising to review its individual accountability regime and sharpening its focus on consumer protection and value for money. In the US, the CFPB is ramping up its efforts to protect consumers, despite a ruling challenging the agency’s funding mechanism.
