Member

I always accept that the FCA takes seriously the protection of individuals, ordinary consumers and micro-businesses. It is not always that effective, but that is its focus. However, the regulatory parameter means that the FCA takes no part in protecting small businesses. With so many small businesses on their knees and open to tempting ways to obtain money for survival, what in this SI provides small businesses with any meaningful protection? Are we again constrained by the regulatory parameter that determines the room and scope of the FCA? Otherwise, the message of caveat emptor needs to be sent out very powerfully to small businesses, because you can see how many might become susceptible to the opportunities that are offered to them now that this becomes a regulated product, if they do not realise that this does not apply to anything sold to them.