The Financial Conduct Authority (FCA) will "retire" over 100 pages of rules underpinning the consumer finance, investments and mortgage sectors following “clear feedback from industry”.
In a statement released today (25 March), the financial watchdog said it is moving to simplify rules for financial firms so that they can "give people clearer information to help them find and compare financial products". The FCA has put forward proposals to assess its expectations for mortgages and lending, and to analyse ways to make communications about savings accounts simpler. The FCA's action plan also includes reviewing parts of its credit advertising rules, such as "lengthy" terms and conditions. In addition to retiring "outdated guidance", the FCA will also withdraw "...
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