CP26/24: Simplifying consumer investment disclosures

Read CP26/24 (PDF)[2]

Why we are consulting

We are proposing changes to align cost disclosure requirements derived from the Markets in Financial Instruments Directive (MiFID) with our Consumer Composite Investments (CCI) regime. We are simplifying and consolidating the disclosure requirements for MiFID, Insurance Distribution Directive (IDD), and non-MiFID investments business.

The proposals aim to help create an investment culture where consumers have the information they need and the confidence to invest, including clear and balanced information about costs and charges. 

Who this is for

This consultation applies to:

• Firms carrying out MiFID or equivalent third country business.
• Firms engaged in insurance distribution activities.
• Firms carrying out other forms of designated investment business.

The consultation will also be of interest to:

• Industry groups and trade bodies.
• Consumers and consumer groups.
• Manufacturers of CCIs and other investments.

Next steps

Online response form[3]

Send us your feedback by 21 August 2026.

You can respond using our online response form or by emailing [email protected].

We will continue to engage with a wide range of stakeholders during and after the consultation period. We intend to publish a policy statement with final rules by the end of 2026.

Background

In December 2025, we published final rules in PS25/20[4] for our new disclosure regime for packaged retail investment products, or CCIs.

The CCI regime puts consumer understanding at the heart of disclosure.

Evidence indicated that consumers rarely read the documents they had been provided with and, if they did, they struggled to understand them. This consultation fulfils a commitment in PS25/20 to review the MiFID-derived requirements in 2026.