UK - Government Principles for the New UK Retail Disclosure Regime
Following the publication in July 2023 of responses to the consultation on the new retail disclosure regime, the UK government has confirmed that it will revoke the PRIIPs regulation and ensure that the FCA can deliver a new UK retail disclosure regime as part of the implementation of the Future Regulatory Framework Review.
The UK Treasury's consultation covered both the existing PRIIPs regime and the government's vision for a UK retail disclosure regime tailored to the UK market.
Government Principles for the New UK Retail Disclosure Regime:
To ensure that retail investors have access to clear and useful information to make evidence-based decisions for their prospective investments
To ensure that the disclosure that retail investors receive is proportionate to the risk that they are taking in purchasing an investment product and the complexity of the product.
To provide additional choice for retail investors, and to reduce burdens for firms.