Regulatory Alerts2017-03-06
PS17/4: Handbook changes to reflect the introduction of the Lifetime ISA
The Financial Conduct Authority issued Policy Statement PS17/4 to publish final rules and guidance for the promotion and distribution of the Lifetime ISA. The regulator amended its Handbook to address consumer protection risks by requiring specific disclosures, including a generic retirement outcome table and warnings about losing employer pension contributions and impacting means-tested benefits. These rules, which build on consultation feedback, came into force on 6 April 2017 to ensure firms provide clear information regarding eligibility, government bonuses, and early withdrawal charges.
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