i-law

Compliance Monitor

Streamlining of retail conduct rules targeted among package of reforms

On the day of publishing its first report on its new competitiveness objective, the FCA called for input from the sector on schemes it is developing to reduce regulatory costs.

A general review of retail conduct requirements seeks to slim down the rulebook by removing or simplifying rules that were introduced to implement the Consumer Duty last year but which overlapped with pre-existing rules. As well as seeking to eliminate these "potential areas of complexity, duplication, confusion, or over-prescription", it is asking for input by the end of October on how it can "include appropriate flexibility in our rules to be responsive to future changes and innovation". Its conclusions on responses to the short, 26-pagecall for inputare expected to be published early next year.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.