LONDON, September 15 (Hfrance.fr) - The British financial watchdog hasset targets on Wednesday to help consumers by 2025 reduce losses from investment scams and avoid risky products.
Financial scams have exploded as more and more consumers search the internet for products.
The collapse of the London investment firm Capital & Finance also forced the government to pay millions of pounds in compensation to investors.
The growth of scams has required the Financial Conduct Authority to become more assertive in consumer protection, who lost nearly 570 million pounds ($ 790 million) to investment fraud in the fiscal year that ended in April. The sum has tripled since 2018.
"We want to see a consumer investment marketation in which consumers can invest with confidence, understanding the risks they take and the regulatory protections provided, "the FCA said in a statement.
The watchdog said that by 2025 it would reduce the number of consumers missing out on investment income by a fifth, halving the number of consumers who invest in products at inappropriate risk and reduce loss of money due to investment scams carried out by regulated companies.
To achieve these objective goals, the dog Guard said he would explore changes in the rules to allow companies to provide more help to consumers who want to invest in relatively simple products.
It will also launch a new £ 11million campaign ondamage to investments and will be more assertive and agile in the way "detects, disrupts and takes action against scammers". Rules to stabilize the skyrocketing bill to compensate consumers for losses will also be reviewed.
($ 1 = 0.7231 pounds) Reporting by Huw Jones; Editing by Kevin Liffey, William Mac lean
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