What is a crucial aspect of ensuring consumer protection according to FCA standards?

Identifying and addressing potential vulnerabilities is a critical aspect of ensuring consumer protection according to FCA standards. This approach involves understanding the areas where consumers may be at risk, including those who may struggle to understand financial products or who might be susceptible to misleading advice. By being proactive in identifying these vulnerabilities, the FCA can implement measures to protect consumers effectively. This could entail requiring clearer information, increasing the scrutiny of financial products, and ensuring that consumers are treated fairly throughout their interactions with financial services. This focus aligns with the FCA's mission to enhance market integrity and protect consumers, creating a safer and more transparent financial environment.