A Bill to require the Financial Conduct Authority to make rules for authorised persons to owe a duty of care to consumers in their regulated activities
House of Lords
8 November 2019
May contain errors — check source documents for definitive information.
This bill would require the Financial Conduct Authority to prepare rules that oblige anyone authorised to provide financial services to owe a duty of care to consumers in their regulated activities. In practical terms, banks, insurers, investment firms and their staff would be expected to act more carefully and responsibly toward customers, with the FCA enforcing these rules. The aim is to strengthen consumer protection by raising professional accountability in financial services.
The bill is at the Lords' second reading stage. It originated in the Lords, with its first reading in October 2019; if it advances, it would move to committee stage and then onward through the Lords and, potentially, to consideration by the House of Commons.
Generated 21 February 2026
29 Oct 2019
First reading took place on 29 January. This stage is a formality that signals the start of the Bill's journey through the Lords.
Second reading - the general debate on all aspects of the Bill - is yet to be scheduled.
The 2017-19 Parliament dissolved at the end of the 2019 Session and this Bill will make no further progress.
No recorded votes for this bill yet.
