The UK Financial Services Authority (FSA) will keep its regulatory approach to balancing the responsibilities of consumers and firms after feedback from the industry and consumer groups failed to come to any agreement.

The FSA last year asked for feedback to gauge if a consensus could be reached around the appropriate balance of responsibility between consumers and companies in the sale of financial services products.

Director of Retail Policy and Conduct Risk Dan Waters says the feedback statement and the original discussion paper will help the industry understand its approach to consumer responsibility – the first time this information has been available.