ABSTRACT
This chapter examines the ways in which banking regulation seeks to ensure that banks treat their customers fairly and that customers have access to a satisfactory range of appropriate products. This policy is addressed critically by exploring possible economic rationales for regulatory intervention and their limitations. These principles are above and beyond the private law duties of care and fiduciary duties examined in the previous part. Breach of regulatory principles in this area gives rise to regulatory enforcement in the form of fines as well as special remedies for customers through the Financial Services Ombudsman and Compensation Scheme. Finally, the chapter examines the connected issue of promoting competition as a means of consumer protection and the role of the Financial Conduct Authority (FCA) in that context.
