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Conduct Risk and Financial Stability [13]

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Bullet points include: UK Financial Conduct Authority Business Plan / Risk Outlook, Mar 2015. Seven forward-looking focus areas: 4 unchanged from 2014, 2 refined, 1 new. Technology may outstrip firms’ investment, consumer capabilities and regulatory response. Poor culture and control continues to threaten market integrity, including conflicts of interest. Large back-books may lead firms to act against their existing customers’ best interests. Pensions, retirement income products and distribution methods may deliver poor consumer outcomes. Poor culture and practice in consumer credit affordability assessments could result in unaffordable debt. This risk may increasingly affect younger people. The range of issues that need to be considered in unfair contract terms is given sharper focus by developments over the last year in legislation and legal precedents. The importance of firms’ systems and controls in preventing financial crime. Key. Probably world-wide. Maybe more UK specific

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