The FCA is calling for views on whether it can simplify its retail conduct rules and guidance following the introduction of the Consumer Duty.
The regulator is seeking feedback specifically on any areas of retail conduct regulatory complexity, duplication, or overlap that can be minimised to reduce regulatory costs and burdens. It does not want responses which suggest changes to the Consumer Duty itself, however. Comments are requested for the following:
- Any rules or guidance which can be simplified into high-level rules;
- The effect of simplifying rules on the FCA’s statutory objectives;
- Achieving a balance between high level and detailed rules; and
- A cost benefit analysis of simplifying rules and guidance.
The call for input closes on 31 October 2024.