F1PART 1AThe Regulators

CHAPTER 1The Financial Conduct Authority

The FCA's general duties

1CThe consumer protection objective

(1)

The consumer protection objective is: securing an appropriate degree of protection for consumers.

(2)

In considering what degree of protection for consumers may be appropriate, the FCA must have regard to—

(a)

the differing degrees of risk involved in different kinds of investment or other transaction;

(b)

the differing degrees of experience and expertise that different consumers may have;

(c)

the needs that consumers may have for the timely provision of information and advice that is accurate and fit for purpose;

(d)

the general principle that consumers should take responsibility for their decisions;

(e)

the general principle that those providing regulated financial services should be expected to provide consumers with a level of care that is appropriate having regard to the degree of risk involved in relation to the investment or other transaction and the capabilities of the consumers in question;

(f)

the differing expectations that consumers may have in relation to different kinds of investment or other transaction;

(g)

any information which the consumer financial education body has provided to the FCA in the exercise of the consumer financial education function;

(h)

any information which the scheme operator of the ombudsman scheme has provided to the FCA pursuant to section 232A.