FCA rejects call for 'confusing' point of sale disclosure review

'Firms determine how to communicate with consumers'

The Financial Conduct Authority (FCA) has rejected AJ Bell's call for a fundamental review of "confusing" point of sale disclosure rules.

The platform and self-invested personal pension provider wrote to the regulator's director of strategy and competition Christopher Woolard to highlight what it believes are failings of the disclosure regime for pension and investment products. It warned "the complexity and sheer volume" of documents advisers and providers are required to issue at the point of sale - which includes suitability reports, key features illustrations, key investor information documents and, when relevant, transfer value analysis - can leave savers in danger of investing in products they do not understand and w...