Adding it up: The FCA's new stance on opt-out selling

The Financial Conduct Authority (FCA) has now finalised its rules to ban opt-out selling across financial markets and set them out in PS15/22. There are rule changes in COBS, ICOBS, MCOB, BCOBS and CONC as well as handbook and non-handbook guidance. The new rules come into force on 1 April 2016, and the handbook guidance at the same time. The non-handbook guidance is effective immediately, with an expectation that firms will have made the necessary changes to their sales process by the 30 September 2016. Add-ons are evident in all financial markets As a bit of history to thi...