Consumer protection in relation to personal finance

CONSUMER PROTECTION IN RELATION TO PERSONAL FINANCE:

Financial Conduct Authority (FCA):

FCA aims to make sure that financial markets are well so consumers get a fair deal.

They ensure that organisation have customers at heart and only offer appropriate products and services.

Ensures that consumers are treated fairly and can stop organisations breaching the rules from trading.

They ensure that the financial market is operating with integrity and honesty.

They help to promote competition within the market and will carry out investigations if they concern relating to a market.

Financial Ombudsman Service (FOS):

FOS is an organisation who customers can contact if they have a complaint in their bank, insurer or finance firm.

The FOS was established by the Government who is free to use it.

The FOS should be the final point of call. They are independent and will review any complaint, taking consideration for both…