Over the last year, the FSA has launched an enhanced Consumer Protection Strategy. The strategy includes a commitment to earlier identification of retail conduct risks. The Retail Conduct Risk Outlook (RCRO) presents our view of current, emerging and potential risks to consumers arising from poor conduct by firms.
The outlook aims to inform a dialogue with consumers and firms, increase awareness of risks, and inform our own supervisory focus.The RCRO covers risks arising from firms’ conduct in their direct relationship with consumers. It does not cover wholesale risks or financial crime risks. It also does not cover risks to consumers posed directly by developments in the macro-economy, or risks within the scope of other regulators (for example, the Office of Fair Trading (OFT))
The above is taken from the ‘introduction panel’ at the beginning of the document. Although it is tough reading, it is worth it if you are especially in the retail sector.