The Government has proposed banning cold calls offering any financial products as part of its plan to tackle fraud and scams.

The new Financial Services and Markets Bill 2023 - described by the government as a “rocket boost” for financial services - has received Royal Assent today.

City of London Minister Andrew Griffith has warned that the FCA’s new Consumer Duty could damage the sector and trigger a wave of spurious lawsuits, according to news reports.