FCA's CCI Regime

The replacement of the EU devised Packaged Retail Insurance Based Investment Products (PRIIPs) and equivalent UCITS disclosure regimes under the new Consumer Composite Investments regime (known as the CCI regime) is currently the subject of FCA consultation (available here).

In line with the current regulatory approach, the new CCI regime is intended to shift from a highly prescriptive disclosure regime to a more flexible and simple approach that prioritises good consumer outcomes. Whilst firms will have greater discretion to determine the information needs of their customers, they will also have more responsibility and there will be a greater onus on firms to both determine and meet the information needs of their customers.