Regulatory Alerts2016-11-15
Handbook changes to reflect the introduction of the Lifetime ISA
The Financial Conduct Authority proposes regulatory changes to the FCA Handbook to govern the promotion and distribution of the Lifetime ISA, a new savings product for adults under 40. The proposals address consumer protection risks by enhancing requirements for client communications, product information disclosures, cancellation rights, and client asset safeguarding. These measures aim to ensure investors understand complex features such as the 25% early withdrawal charge and potential loss of employer pension contributions.
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