Blog: UK Banks Risk New Fines Unless They Put Their Customers First – Bloomberg

Financial firms may be fined and stripped of their regulatory authorization unless they put their customers’ needs first under far-reaching reforms from the UK City regulator.

Banks, insurers and other companies will have to ensure their services are actually good for their clients and that this approach is taken at all levels of the business, Ian Searle, head of department for consumer and retail policy at the Financial Conduct Authority, said at a press conference.

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