On 19 December 2024, the FCA published CP24/30: A new product information framework for Consumer Composite Investments. They are consulting on a new product information regime to help consumers understand the investment products they are buying, while giving firms flexibility to innovate. The consultation closes on 20 March 2025.
Consumer Composite Investment (CCI) is an investment where the returns are dependent on the performance of, or changes in, the value of indirect investments. This includes funds, structured products, insurance-based investment products, contracts for difference and other complex investments like derivatives.
The regime will apply to any firm that manufactures or distributes a CCI to retail investors in the UK. The FCA are propsing to move from an overly prescriptive disclosure regime to a more flexible, simpler approach. Their proposed regime will replace the UK PRIIPs KID, UCITS KIID and NURS KII.
AREF's Public Policy Committee and Retail Funds Committee are reviewing the consultation and considering if AREF should respond. AREF welcomes any thoughts on the FCA's proposals from AREF members; please email these to Jacqui Bungay, Head of Policy ([email protected]).
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