Regulatory AlertsRing-fencing: Disclosures to consumers by non-ring-fenced bodies
The Financial Conduct Authority issued final rules requiring non-ring-fenced bodies to disclose specific information to consumers holding or applying for accounts. These rules, published in Handbook Notice 38, implement the ring-fencing regime mandated by the Financial Services and Markets Act 2000. The regulations come into force on 1 December 2016 to help consumers make informed financial decisions before ring-fencing transfer schemes are implemented in 2019.
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