FSA could replace menu and IDD with new requirements

In its July newsletter, the regulator says it will be testing alternative disclosure documents with consumers as part of its review of depolarisation adding that, should the research show it necessary, “we will introduce any replacement in 2008”. From November, firms will be able stop using the current menu and IDD and develop their own disclosure methods so long as they meet new rules set out by the Markets in Financial Instruments Directive (MiFID). The FSA also says it is continuing to monitor firms with clawback debts following a project researching the position of around 150 advisers...