Managing and avoiding harmful outcomes
While all firms will have activities in place to avoid harms, it’s certain that these aren’t as robust as Consumer Duty would expect. Andrew Gething shares his experience of assessing vulnerable consumers, what can be done when a vulnerability is discovered – and why many current next steps are unlikely to help actually address that vulnerability. Also, vulnerabilities are often looked at in isolation, but real issues arise when people experience more than one vulnerability – and addressing these holistically, rather than separately, happens far too infrequently.
