Context
To help firms implement the Duty, it provides additional information on areas it has been receiving firm queries on, which are relevant for the wider market.
Key points to note
The FCA has noted the following information in the ‘Clarifying the scope’ section of the webpage:
Changes identified in its March 2023 Handbook Notice to make certain points clearer within the rules, including:
- The application to firms approving or communicating financial promotions
- The application to firms in the temporary marketing permissions regime (TMPR)
- The ‘closed product’ and ‘existing product’ definitions
- The application to credit unions
Confirmation that it is still considering responses to its December 2022 consultation in relation to changes that it had proposed on:
- Defined benefit occupational pension schemes
- Non-retail financial instruments
- Exemptions in sectoral sourcebooks
Next actions
None – for information and awareness.