BRIEF-UK's FCA proposes changes to encourage better customer communications

Thu Oct 22, 2015 6:44am EDT
 
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Oct 22 (Reuters) - Financial Conduct Authority (FCA) :

* Announced plans to remove a number of ineffective communication requirements from its handbook

* Also set out its intention to consult to remove a number of existing disclosures as part of its commitment to create a sustainable regulatory framework

* Reviewing feedback received on smarter consumer communications discussion paper and will consider whether further changes can be made to improve customer outcomes.

* Proposing to amend rules and guidance on consumer-friendly principles and practices of financial management, short report

* Proposing to amend initial disclosure document/combined initial disclosure document and services and costs disclosure document

* Consultation will close on 18 December 2015 Source text: (bit.ly/1PCebqo)