"Especially with the FTSE All-Share down 2.5 per cent year to date, investor confidence fragile and sales depressed. It’s a volatile time."
Denning said while such behaviour might make Scrooge proud, it’s not the right thing to do for customers when there is a cost-of-living crisis and markets are down.
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"Perhaps the boards and CEOs of those firms will look at consumer duty, have an epiphany and decide to do the right thing for their customers. Time will tell," he said.
ruby.hinchliffe@ft.com
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