Consumer panel calls for post-Brexit review of product disclosure

Too many inconsistencies

Victoria McKeever
clock • 1 min read

Brexit presents an opportunity for the UK to review disclosure measures and simplify consumer information, the Financial Services Consumer Panel has said.

In a paper out on 23 February, the regulator's panel claimed current complex disclosure requirements were a product of EU regulation and could be tackled as part of the UK's exit from the bloc. Advisers have long bemoaned the issue of creating short and clear suitability letters for clients under the current disclosure regime. The panel said multiple directives developed by the EU for the various sectors within the industry had created inconsistencies that confused consumers. This had also undermined the ‘overarching' role of EU regulation in the past. It said: "Too often consumers...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read