FCA chief executive Martin Wheatley has said there are signs that companies and boardrooms are beginning to pro actively make changes to put consumers "at the heart of the way they do business" in the FCA’s first Annual report.
One example of this is in staff remuneration, which Wheatley said had improving, and that conflicts of interest that risked miss-selling were being removed.
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"What we want to see now is the change filter down to everyone involved in meeting consumer needs, whether on the trading floor or in a high street branch." He added.
In the report, the FCA said its intervention on financial incentives had resulted in a significant change at the large retail banks, but noted overall, "There is more to be done."
In consumer credit specifically, the FCA noted that by 1 April 2014, it had issued 49,405 interim permissions from a number of industries. Approximately 20% of these permissions came from the motor industry.
Overall, Wheatley described the year as "challenging and productive."
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