FCA extends 10% drop notification suspension until end of 2021

Will review rule

Sophie King
clock • 2 min read

The Financial Conduct Authority (FCA) has extended the suspension of the 10% depreciation rule until the end of 2021 and said it will begin consulting on the regulation this spring.

In an update published on Friday (19 March), the regulator said it has extended temporary measures for firms until the end of 2021 while it undertakes policy work on the future of the requirement. It said the temporary relaxation had so far given it the "opportunity to consider the effectiveness", raising the hopes of critics it might not return at all at the end of 2021. The temporary coronavirus pandemic-related measures were first introduced in March 2020 as market volatility spiked. Firms providing portfolio management services or holding client accounts have had to notify clients ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read
Scenario modelling: Meeting the FCA's retirement expectations

Scenario modelling: Meeting the FCA's retirement expectations

Meeting regulatory standards and maximising good client outcomes

Stephen Ford
clock 22 April 2024 • 5 min read