The Financial Conduct Authority (FCA) will replace the EU's disclosure rules for investors in various financial products, aiming for a simpler and more flexible approach. The changes, welcomed by the City of London, are part of the FCA's review of post-Brexit EU laws. The FCA hopes the new regime will provide investors with clearer, more understandable information.
EU disclosure rules that often “confuse or overwhelm” investors in many types of investment products will be replaced under proposals by the UK financial watchdog. The Financial Conduct Authority said on Thursday it would make “significant changes” to the rules on information for investors in various kinds of financial products, such as index tracker funds, closed-end investment funds and contracts for difference.
Christian Pittard, head of investment trusts at City fund manager Abrdn, said the FCA’s consultation “has much riding on it and no time to lose”. He said 22 closed-end funds had left the sector this year and “talk of an existential crisis . . . is not an overstatement”.
Financial Conduct Authority Brexit EU Rules Investor Disclosure Investment Products
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK watchdog fines former Wizz Air executive for secret share tradingEx-supply chain manager fined £123,500 by FCA for breaching market abuse rules
Read more »
UK’s FCA to simplify disclosure rules for investment productsWatchdog says it will scrap regime inherited from EU that can ‘confuse or overwhelm’ investors
Read more »
UK financial regulator slammed for failed tech transformationPoor software projects among efforts to overhaul FCA that came up short, MPs find
Read more »
FCA reworks internal whistleblowing policies after criticismChanges follow backlash against UK financial watchdog’s chair for revealing whistleblowers’ identities internally without their consent
Read more »
UK financial watchdog fines Macquarie Bank £13mn for fictitious tradesTrader bypassed internal systems in bid to hide losses, says FCA
Read more »
Barclays fined £40mn after dropping challenge over Qatar fundraisingFCA says UK bank’s conduct in October 2008 capital raising was ‘reckless and lacked integrity’
Read more »