29th January 2026
James Daley of Fairer Finance criticized the FCA's pure protection market study interim report as a missed opportunity arguing that the regulator, influenced by the government's deregulation agenda, avoided taking meaningful action on known market problems
In response to the FCA’s Interim Report on the Pure Protection Market Study, James Daley, managing director of consumer group Fairer Finance, said:
"The FCA’s protection market study is another missed opportunity. Many of the issues in the market have been side stepped - and once again, the main headline from the interim report is that the FCA is not planning any major action. The Government’s pro-growth, deregulation agenda continues to make all the running - with the FCA clearly feeling it cannot take any action which is seen to be unpopular with industry.
"It’s incredibly frustrating that the regulator has invested so much time and energy in both the protection and premium finance market studies - only to conclude that no action is necessary. These market studies were launched because of concerns about the way these markets were operating - yet the regulator has felt unable to follow through and take any action to address those problems."