FCA to cut down on FS regulation amid five-year strategy launch

Moving to simplify rules for financial firms

clock • 1 min read

The Financial Conduct Authority will "retire" over 100 pages of rules underpinning the consumer finance, investments and mortgage sectors following “clear feedback from industry”.

In a statement released today (25 March), the financial watchdog said it is moving to simplify rules for financial firms so that they can "give people clearer information to help them find and compare financial products". The FCA has put forward proposals to assess its expectations for mortgages and lending, and to analyse ways to make communications about savings accounts simpler. FCA's action plan also includes reviewing parts of its credit advertising rules, such as "lengthy" terms and conditions. In addition to retiring "outdated guidance", the FCA will also withdraw "hun...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

ABI appoints director of regulation

ABI appoints director of regulation

David Otudeko takes the role

Jaskeet Briah
clock 29 April 2025 • 2 min read
FCA proposes reduction of data reporting for firms

FCA proposes reduction of data reporting for firms

Supports regulator’s aim to ‘reduce burden’

Isabel Baxter
clock 17 April 2025 • 2 min read
Christine Elliott departs as PFS chair

Christine Elliott departs as PFS chair

Carla Brown takes the role

Isabel Baxter
clock 15 April 2025 • 2 min read