DP22/6: Future Disclosure Framework

DP22/6 published
Discussion period ends

The way consumers buy retail investments is evolving. Give your views on how we prepare retail disclosure for the future.

Read DP22/6

The distribution of retail investments has changed in recent years, with a growing trend towards online investment and the digital distribution of disclosure. However, most disclosure regulations were designed for advised sales and paper-based disclosure and a review of retail disclosure is now needed to help financial services be fit for the future.

Who will be interested in this discussion

  • investors and consumer organisations
  • those who manufacture non-PRIIP packaged products, PRIIPs, UCITS and certain non-UCITS retail schemes (NURS) and those who advise on or distribute non-PRIIP packaged products, PRIIPs, UCITS and such NURS, including:
    • issuers of securities that are or may be classed as PRIIPs (including businesses that do not require Part 4A authorisation under FSMA)
    • life companies and discretionary investment management firms
    • firms providing services in relation to insurance-based investments
    • fund managers, including overseas fund managers, wealth managers and financial advisers
    • stockbrokers and other firms that provide advice to retail clients on funds and overseas funds
    • issuers of structured products and derivatives
    • firms operating retail distribution platforms

Respond to this discussion paper

We are asking for comments on this discussion paper by 7 March 2023. Your responses are non-confidential unless you request that they are not shared.

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What happens next

The discussion period ends on 7 March 2023. After considering the responses, we will issue a Feedback Statement.