Campaigner Mick McAteer calls for a digital conduct authority and explains how and why this could benefit financial services in future.

A 20 minute watch.

He sets out what structure and powers a DCA might have, the possible need for a digital ombudsman and how such a body would work with the FCA.

“There is a huge shadowland of digital and data services providers that is very opaque and very poorly regulated. A DCA would regulate that market.”

He argues it would help regulators beat back the scammers.

“A lot of the harm from scams is outside of the FCA’s regulatory perimeter. A Digital Conduct Authority would expect the same standards of behaviour from the digital platforms as the FCA does from banks and insurers. The combination of those authorities would close off some of these major loopholes.”

We also ask the well-known consumer campaigner, is this a regulator too far?