If I suffered losses because of a breach of the duty to explain, do I have to prove the financial company was at fault?

Under the Financial Consumer Protection Act, a financial company that causes losses by violating the law is liable for damages.

In particular, where losses arise from a breach of the duty to explain, the financial company is liable unless it proves that it acted without intent or negligence. The consumer need only prove the violation, the loss and the causal link between them, which reduces the burden of proof.