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<p>The government believes that the Financial Conduct Authority (FCA), as the UK’s
independent conduct regulator for the financial services industry, is best placed
to lead the discussion on the merits of a duty of a care for financial services providers.</p><p>
</p><p>The FCA have committed to issuing a Discussion Paper on a duty of care later
this year. The Paper will invite contributions from all interested parties on the
case for and against a duty of care, what form such a provision might take, and consequential
issues arising from adopting it. This will be an open process designed to gather views.</p><p>
</p><p>In this context, the government welcomes the FCA’s continued commitment to
this debate, and we do not think an amendment to the Financial Guidance and Claims
Bill would be appropriate.</p><p> </p>
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