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.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleFCA indicates path for future crypto regulation
The U.K.’s financial regulator has proposed a set of rules to regulate the growing crypto industry after recognising that consumers are interested in exploring the market despite persistent warnings about price volatility, the high-risk of losses, and investment scams.
-
PremiumFCA helps firms to test Artificial Intelligence tools safely
The U.K.’s financial regulator has set up a live-testing environment so that firms can road-test their Artificial Intelligence (AI) services safely before launching them to the public.
-
ArticleRole for compliance as FCA urges U.K. asset managers to take up tokenization tech
The U.K. Financial Conduct Authority (FCA) has opened a consultation on its plans to support “tokenization” – the digital representation of assets on distributed ledger technology (DLT). It is calling for firms to respond to the consultation before November 21. The financial regulator said in a press release on Oct. ...
More from Regulatory Policy
-
ArticleBank of England tightens liquidity requirements for U.K. banks
U.K. banks must reassess how quickly they could monetize their assets in the event of a crisis under new rules proposed by the Bank of England’s regulatory body, the Prudential Regulation Authority. The proposals are the first changes to the liquidity rules since these were updated in the aftermath of ...
-
ArticleEurope’s groundbreaking crypto rules put at risk by delays in implementation
Europe may have taken the lead in attempting to regulate cryptoasset firms before any other major jurisdiction, but a year after the ground-breaking rules came into force, it does not necessarily follow that they are robust or that the industry they are meant to hold accountable is embracing them.
-
ArticleCompliance must focus on corruption as EU and U.K. seek to tackle rising risks
Corruption isn’t something that happens somewhere else, in other countries and committed by other people. Nowhere is corruption-proof, and new rules being introduced in the EU and the U.K. aim to focus compliance officers on the full gamut of risks in all jurisdictions and every sector.