‘Buyer beware’ no longer an excuse for banks, says FCA
Banks will no longer be able to use the "buyer beware" defence when selling complex financial products to consumers, said Financial Conduct Authority managing director Martin Wheatley on Wednesday, as he signalled a shift in UK regulation towards putting responsibility on sellers.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts