UK: UK is considering post-PRIIPs policy
The Financial Conduct Authority (FCA) and the Government announced the 19 September 2024 that they plan to put in place by summer 2025 the UK’s new retail disclosure regime.
HM Treasury will lay legislation to introduce a new framework for Consumer Composite Investments (CCI) as soon as possible. And the FCA will consult this autumn 2024 on proposed rules for the CCI regime.
The FCA and the Government aim for the new CCI framework to be more proportionate than the current rules for packaged retail and insurance-based investment products (PRIIPs).
As an interim measure, the Government also intends to exempt close-ended UK-listed investment trusts from the current UK PRIIPs Regulation. However, these funds will be included in the scope of the replacement CCI regime because it will cater for a wider variety of products and investment vehicles.