CP25/37: Targeted clarifications of Handbook materials

Read CP25/37[3]

Why we are consulting

Our proposals in this consultation are designed to:

• Resolve uncertainty in our rules and guidance, that have been wholly or in part superseded.
• Introduce greater proportionality and clarity to existing rules.
• Resolve clear cases of conflict and duplication in our rules.
• Seek views on how we could enhance our  support for smaller firms.

Who this applies to

These proposals would  apply to:

• Regulated firms offering products and services to retail customers or conducting retail market business.
• UK authorised fund managers (AFMs).
• Insurers and Lloyd’s managing agents.
• Insurance intermediaries.
• Firms that provide funeral plans.
• Banks.

This consultation will also be of interest to:  

• Academics and think tanks.
• Policy makers and other regulatory bodies.
• Industry groups and trade bodies.
• Industry experts and commentators.
• Consumer groups and individual consumers.

Next steps

We’re asking for comments on this consultation by 27 January 2026.

Response form[4]

You can also submit your response by emailing [email protected] or by writing to: Consumer Duty Policy, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN.

We propose that most rule changes proposed in this consultation come into force immediately after they are made in our policy statement. We anticipate this will be in the second quarter of 2026.  However, we propose that changes to our CASS rules would come into force 3 months after publication of our policy statement to this consultation.

Background

The proposals in this CP seek to advance the outcomes of the Consumer Duty Requirements Review[5] and the ambitious workplan set out in FS25/2: Immediate areas for action and further plans for reviewing FCA requirements following introduction of the Consumer Duty[6].

The proposals in this paper also support the priorities set out in our strategy 2025 to 2030 (PDF)[7].