FSA leaves product disclosure regime alone
REGULATORY UPDATE
The FSA has subsequently decided to abandon these proposals. It is planning, through its Conduct of Business rules, or Newcob guidelines, to simplify the current requirements and implement a number of measures to improve the standard of the existing documentation.
The FSA had intended to replace the existing Key Facts Documents (KFD) with a two-sided Keyfacts Quick Guide. It also planned to introduce a new method of projecting information (currently the personal illustration document), aiming to
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