The All-Party Parliamentary Group (APPG) on Personal Banking and Fairer Financial Services has launched a consultation into the regulator.

The group is canvassing for opinions to identify financial services where providers or regulators have not delivered consumer protection.

It has developed several sets of questions, each designed to fit a particular context depending on the individual’s circumstances.

For example, there is a question set for scam victims, another for whistleblowers, and another for people that have suffered from poor conduct by the banks.

There are six question sets in total and the consultation runs until 6 September.

APPG chair and MP Peter Gibson said he believes the time is right to give the public a chance to share their opinion about the Financial Conduct Authority (FCA).

He said: “The purpose statement of the APPG on Personal Banking and Fairer Financial Services is to identify aspects of personal banking and financial services where the service providers or regulators have not delivered, or are not delivering, excellence and appropriate consumer protection; to facilitate and encourage all stakeholders to work together to resolve past and present shortcomings, and to bring about positive changes.”

If the evidence it gathers indicates there are problem areas, the group can explore those issues further, with a view to proposing evidence-based remedies.

It may also consider running a similar exercise about other financial regulators in due course.

The FCA was not available for comment at time of publication.

Earlier in the week a consumer advocacy group accused the FCA of breaking the law over its consumer duty consultation paper.