FCA sets April date for Mifid II retail consultation

FCA sets April date for Mifid II retail consultation

The FCA has said its retail market consultation paper on the implementation of Mifid II will be published this April, a month later than first anticipated.

In a policy development update published today (January 8), the watchdog said the paper - which follows on from a separate consultation in December focusing on issues relating to investment markets - will be followed by a three-month consultation period.

The paper will address issues of particular concern to the retail investment industry, such as the directive’s designation of complex products, new rules over costs and charges disclosure, and definitions of restricted and independent advice.

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With Mifid II implementation now set to be delayed a year until January 2018, the FCA said last month that it would have to decide “whether it would be possible or make sense to publish its second consultation paper in March 2016” as originally planned.