Overview
- The regime would allow firms to give product-specific recommendations without a full individual assessment, with a duty to ensure suitability and improve customers’ positions.
- The FCA projects at least 18 million people could benefit over the next decade as it seeks to shift more savers into investing.
- FCA data show roughly seven million adults with £10,000 or more in cash may be missing out on long‑term investment benefits.
- The initiative forms part of a broader push to build a UK retail investing culture and to encourage informed risk-taking.
- Consumer protections include the FCA’s new firm checker tool, launched after about 800,000 people reported losses to investment or pension scams in the year to May 2024, with industry and ministers welcoming the proposals.