The group of MPs has launched a call for evidence to identify instances where financial providers and regulators have not delivered adequate consumer protection.

The six sets of questions shared by the group are designed to fit different contexts and include questions related to scam victims, whistle-blowers and misconduct.

Peter Gibson MP, chair of the APPG on Personal Banking and Fairer Financial Services, said the purpose of the group is: “To identify aspects of personal banking and financial services where the service providers or regulators have not delivered, or are not delivering, excellence and appropriate consumer protection; to facilitate and encourage all stakeholders to work together to resolve past and present shortcomings, and to bring about positive changes.

“In an attempt to better understand whether the financial regulators have not delivered, or are not delivering, excellence and appropriate consumer protection, we are gathering evidence on what people think about the Financial Conduct Authority.”

He added that the group may consider running a similar exercise about other financial regulators in due course but for now it is just the FCA that is in scope in this particular call for evidence. 

The consultation will run until 6 September.