FSA consults on depolarisation

The Financial Services Authority will be consulting on the impact on depolarisation and its disclosure documents in October.

The move is part of the FSA’s consulation on the Markets in Financial Instruments.

Within this, the regulator is proposing to maintain the Menu and the Initial Disclosure Document while it continues to undertake the post-implementation review of the regime which was announced when the new rules were introduced.

The FSA will carry out an assessment of how well the regime is performing in meeting the objectives to provide consumer protection, help consumers shop around and ensure that they have access to a wide range of good value products.

The FSA says it is approaching the review with an open mind and will make substantial changes to the Menu and IDD if appropriate. It expects firms to adhere to the rules currently in place while the review is being undertaken.