The APPG says it is disappointed with how the FCA responded to its November 2024 report. 

Quality of advice, high pressure selling, excessive fees and conditional selling are all on the FCA's radar.

35 million adults are potentially vulnerable, with many unaware they meet FCA criteria.

"Financial stability is a foundation for growth. There isn’t a trade off in a fundamental sense", Bailey said.

The regulator says the breach "highlighted weaknesses in Infinox’s transaction reporting systems and controls for a high-risk investment product".

Variable recurring payments give consumers greater sight and control over their regular payments.

The regulator says firms need to improve to better protect against money laundering.

Rathi warned that "one or two things are going to go wrong here and not everybody is going to play completely by the rule book".

The FCA's thematic review requires advisers to improve standards to demonstrate suitability of retirement income recommendations.

The FCA's chief says the changes would "support home ownership and opening a discussion on the balance between access to lending and levels of defaults".