Context
The FSCP has published its 2025/26 Annual Report. The FSCP is a statutory body set up under the Financial Services and Markets Act 2000 to represent the interests of financial services ‘consumers’, and when it refers to ‘consumers’, this includes private individuals as well as small businesses. It is independent of the FCA, but its members are appointed by the FCA and are recruited through open competition.
Key points to note and next actions
The Report explains and sets out the FSCP’s vision (that financial markets work well for consumers – both individuals and small businesses – and consumer harm does not occur), aims (to ensure the voice of the consumer is heard, duly considered and appropriately actioned by the FCA and by policymakers and industry) and priorities (e.g., keeping consumers front and centre, protecting against harm, safeguarding consumer interests during regulatory change).
The Report goes on to include commentary on the following topics:
- Digital markets.
- Innovation and technology.
- Growth, rebalancing risk and market sustainability.
- Vulnerable consumers and financial inclusion.
- SMEs and micro-businesses as financial consumers.
- Redress, accountability and consumer protection.
- Engagement, influence and consumer voice.
- FSCP research and recommendations.
- A look ahead.