Duty of Care Bill raises questions over FCA intentions

By Neasa MacErlean

The proposal for a duty of care on firms appears to have acquired new legs, after the ‘Financial Services Duty of Care Bill’ was given its first reading in the House of Lords on 29 October. The Bill would, as it explains, require “the Financial Conduct Authority to make rules for authorised persons to owe a duty of care to consumers in their regulated activities”.