The Financial Conduct Authority (FCA) has pledged to slash the number of savers with nest eggs wasting away in poor-paying savings accounts.
At the same time, the regulator promises to halve the number of investors ploughing money they cannot afford to lose into high-risk investments.
Better investing: The Financial Conduct Authority says nearly 8.6m of us are holding more than £10,000 in cash savings accounts that could bring much greater rewards if invested
As part of this, it will launch an £11 million campaign to help naive investors make better-informed decisions with their money and protect them from losses.
Sarah Pritchard, executive director of markets at the FCA, told Money Mail: ‘Investors have never had more freedom — technology has democratised the market, new products have become available, and people have better access to their…