On 2 September 2021 the Financial Markets Authority (FMA) published an updated information sheet on its expectations for providers of financial services in relation to client vulnerability practices. In doing so, the FMA acknowledges that there is no ‘one-size-fits-all’ approach to developing and embedding processes and practices related to client vulnerability. Instead, firms should tailor their responses to reflect their scale, size and complexity and consider the likelihood of their clients experiencing vulnerability. 

The updated information from the FMA provides practical guidance and has been included in this Guidance Note.