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<p>The Treasury does not issue such guidance. The independent financial services regulator
- the Financial Conduct Authority (FCA) - requires firms to treat their customers
fairly and has broad and robust powers to enforce breaches of its rules.</p><p> </p><p>The
FCA has carried out a recent series of work on elderly and vulnerable consumers. In
September 2017, the FCA published its Ageing Population Occasional Paper, which reviewed
the policy implications of an ageing population and the resulting impact on financial
services. In October 2017, the FCA also published its ‘Financial Lives Survey’, the
first of an annual large scale survey (13,000 interviews) which is designed to add
a substantial new source of data to the regulator’s understanding of consumers in
the retail financial markets. In addition, in November 2017 the FCA published its
‘Approach to Consumers’ Paper, which details how the FCA measures the effects of its
actions on consumers, particularly with respect to access and vulnerability.</p><p>
</p><p>The Government supports the FCA’s work in this area and will continue to work
with it to ensure that all consumers are treated fairly.</p>
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