The government has published a draft statement to provide the Financial Conduct Authority new powers to construct and implement the UK's new retail disclosure framework.
Alongside Chancellor Jeremy Hunt's Autumn Statement, delivered today (22 November), the government published a statutory instrument outlining key definitions, the scope of the new framework and the provision of powers for the FCA to make and enforce the rules. The initial draft was published earlier in July, but the updated version covers the "near final version" of the rules, although the Treasury will continue to seek "technical comments" until 10 January 2024. The full legislation will be applied in 2024, subject to parliamentary time allowing. Draft regulations offer FCA powers to...
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