Vulnerability and CONC

According to FCA CONC rules a firm’s primary focus should be on:

  • taking action to assess whether a customer can understand, remember
  • and weigh-up information;
  • providing reasonable support to help customers make a decision; providing customers with clear information and explanations about credit
  • and the associated risks;
  • giving customers adequate time to consider the information and explanations provided and ask any questions.
  • giving customers the opportunity to take information away to consider
  • explanations, enabling them to make informed decisions at a later date; carrying out appropriately robust assessments of the customer's ability to afford to make repayments. Such assessments should not rely unduly on the information provided by the customer.