COVID-19 - An important reminder to support customers

In these unprecedented times, it is absolutely imperative that businesses understand their customers needs and can provide assurance, adaptability and solutions to meet customers needs. The FCA has provided some useful guidance on firm responsibilities during this time:

Our rules give firms the ability to consider their arrangements and customers’ circumstances. We welcome firms reviewing their current arrangements to address the evolving situation while managing the risks to their employees, customers and the impact on the market.

We are in regular contact with firms to assess their current position, and expect firms to take reasonable steps to ensure they are prepared to meet the challenges coronavirus poses to customers and staff, particularly through their business continuity plans.

We expect firms to provide strong support and service to customers during this period. They should be clear and transparent and provide support as consumers and small businesses face challenges at this time.

For the full article please visit:

https://www.fca.org.uk/firms/information-firms-coronavirus-covid-19-response#firms'-responsibilities