Decision time for compliance as U.K. CCI regime ditches formulaic reporting to engage investors
A new U.K. Consumer Composite Investments (CCI) regime comes into force on April 6 and will apply to all firms that manufacture or distribute CCI products to retail investors in the U.K. This includes some firms that are not regulated by the Financial Conduct Authority (FCA).
The new CCI regime replaces disclosure requirements under the onshored PRIIPS and UCITS regimes. It covers investment products including open-ended funds, closed-ended funds, recognised funds, structured products, structured deposits, contracts for difference, insurance-based investment products, and other complex products such as derivatives.
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