Our Risk Outlook sets out our approach to assessing risks to our objectives. It analyses the fundamental causes of risk and how these affect the financial services market and its participants.
What is in the Risk Outlook 2014?
The Risk Outlook is split into two parts. Part A looks at what causes risks to arise, including changing environmental pressures, and sets out how we consider these. Part B looks what risks we have found across the financial markets, and discusses the following key forward-looking areas of focus that we have identified.
- Technological developments may outstrip firms’ investment, consumer capabilities and regulatory response
- Poor culture and controls continue to threaten market integrity
- Large back-books may lead firms to act against their existing customers’ best interests
- Retirement income products and –distribution may deliver poor consumer outcomes
- The growth of consumer credit may lead to unaffordable debt
- Terms and conditions may be excessively complex.
- House price growth that is substantial and rapid may give rise to conduct issues
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