UK retail financial services set for biggest overhaul in 20 years

FCA’s new rules aimed at improving value for money for customers and preventing ‘foreseeable harm’

The biggest regulatory shake-up of UK retail financial services for two decades will come into force on Monday in an effort to crack down on rip-offs and poor customer service.

The changes include stronger rules on value for money and giving fair pricing to all customers, with experts predicting that some older financial products that do not meet the new higher standards are likely to be removed from sale.

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