AIC calls for 'radical review' of consumer disclosure regime as FCA scraps PRIIPs performance requirement

‘Uneven playing field’

Chief executive of the Association of Investment Companies Richard Stone has called for the Treasury to “make good on its promise” and conduct a full review of the consumer disclosure regime.

"The regulator is now at the end of the road," Stone said of the Financial Conduct Authority's amendments to PRIIPs. "The FCA has done all it can to reform KIDs without being given further powers. Now is the time to get started on the Treasury's promised wider review of the regime." PRIIPs: Concerns about misleading performance scenarios The review sees the requirement to publish performance scenarios in a KID removed from PRIIPs manufacturers as they are "incompatible with their duty to ensure the information in the KID is accurate, clear, fair and not misleading"...