FCA’s review of firms’ treatment of vulnerable customers: key takeaways

In March 2025 the Financial Conduct Authority (FCA) published its Review of firms’ treatment of vulnerable customers finding that most firms fail to effectively monitor and address outcomes for these customers. The FCA affirmed that FG21/1: Guidance on the fair treatment of vulnerable customers which predates the FCA’s Consumer Duty remains relevant. In response to stakeholder feedback for further case studies on the issue the FCA published Delivering good outcomes for customers in vulnerable circumstances. The report outlines good practice and identifies areas for improvement to support firms in embedding the Consumer Duty (the Duty) and the FCA’s expectations in FG21/1. This article considers the key takeaways from the FCA’s report.

The FCA found that while some firms demonstrate good practice there are significant areas for improvement particularly in outcomes monitoring support...