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The FSA published a Consultation Paper containing proposals which aim to further help investment advisers provide consumers with clear and simple information about services and costs.
The FSA's new regime for the conduct of investment business came into force on 1 November 2007. The FSA is proposing a single disclosure document. This would simplify investment disclosure and continue to give firms discretion over how the information is presented while maintaining their responsibility to consumers. The regulator is also seeking views on whether it would be appropriate for the industry to develop guidance in this area.
The FSA will publish feedback on responses to this Consultation Paper in a Policy Statement in July 2008 together with the final handbook text. The new guidance will take effect on 6 August 2008.
Deadline for consultation is 19 May 2008.