Financial advisers and other financial services firms are being called on to engage and participate in consultations from the Financial Conduct Authority (FCA) and HM Treasury around the new disclosure regime, which industry experts are optimistic will provide better, more meaningful information for UK investors.
On 9 December the UK government announced it would repeal the European Union's packaged retail and insurance-based investment products (PRIIPs) regulation as a "matter of priority". It launched a consultation to seek views on an alternative framework for the disclosure with the FCA at the helm. The regulator then launched a discussion paper on 13 December in which it set out initial ideas about the delivery, content and presentation of the future regime. The initial reaction throughout the industry has been positive as experts felt the PRIIPs documents were too prescriptive and failed...
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