Menu and IDD option to operate until August 2009

This will allow firms to exhaust their existing stock of documents and give them time to consider the disclosure option that best suits their business model, the regulator says. The move away from the Menu and IDD (initial disclosure document) follows the introduction of the FSA’s COBS (Conduct of Business Sourcebook) regime, which came into effect on November 2007, and was intended to introduce a principles-based approach to disclosure. Before COBS came into force, investment advisory firms were required to give customers the Menu and IDD on first contact with a view to giving advice o...