'Quick Guides' could replace KFDs

According to the joint implementation plan for MiFID issued by the FSA and the Treasury, the FSA is still pursuing the possibility of replacing the KFD with a two-page ‘Quick Guide’ (QG) which offers consumer a generic view of a product, rather than the specific information currently required of a product’s KFD. This joint consultation on the implementation of the Markets in Financial Instruments Directive (MiFID) points out renewed focus on KFDs will be part of the FSA’s Reforming COB Regulation consultation paper scheduled for October 2006, when the FSA sets out its proposals for improvi...