The Financial Conduct Authority (FCA) has addressed the ongoing ‘stalemate’ impacting the closed-ended space on cost disclosure reform and has unveiled a series of proposed changes to address the issue, as part of broader plans to simplify the information supplied to investors under its new Consumer Composite Investment (CCI) regime.
Today (19 December), the FCA asked the industry for feedback on its plans to scrap certain EU regulations and replace them with "a new flexible and proportionate product information framework tailored to UK markets and firms" as part of CCI. This will include products such as closed- and open-ended investment funds, structured products, contracts for difference (CfDs), derivatives, and insurance-based investment products (IBIPs), with more than 12.6 million UK investors (23% of all adults) holding an investment falling within the CCI umbrella. The consultation follows the Treasury's ...
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