FCA cuts back on client communication rules

The move follows a discussion paper on 'Smarter consumer communications', published by the FCA in June, which called on firms to think about how they can improve their communications to help consumers make better decisions about their finances. At the same time the FCA set out plans to consult to remove a number of disclosure requirements, as part of what it said is its "commitment to create a sustainable regulatory framework". The FCA is proposing to amend the following rules and guidance: • The Consumer-friendly principles and practices of financial management • Short report • Th...