CP26/24: FCA consults on aligning MiFID cost disclosures with Consumer Composite Investments regime
Wealth managers, brokers, and insurers distributing investment products to retail consumers must assess CP26/24 proposals to simplify cost disclosures. Responses close 21 August 2026.
Action required. Responses due 21 August 2026.
The FCA published CP26/24 on 2 July 2026, consulting on simplified cost and charges disclosure rules for firms distributing investment products to retail consumers.
The core proposal is to align cost disclosure requirements derived from MiFID with the Consumer Composite Investments (CCI) regime, and to simplify and consolidate disclosure rules across MiFID, Insurance Distribution Directive (IDD), and non-MiFID designated investment business. The FCA cites evidence that consumers rarely read the disclosure documents provided to them, and when they did, they struggled to understand them.
The consultation applies to firms carrying out MiFID or equivalent third-country business, insurance distribution, or other designated investment business where retail consumers are served.
CP26/24 fulfils a commitment made in PS25/20, the FCA's December 2025 policy statement on the CCI regime, to review MiFID-derived requirements in 2026. The FCA intends to publish a policy statement with final rules by the end of 2026.
Responses close 21 August 2026.
Related: CP26/22 on insurance conduct rules
Running alongside CP26/24 is CP26/22, which consults on simplifying insurance conduct rules, including removing duplicative disclosure requirements and increasing flexibility in how disclosures are provided to customers. Both consultations form part of the FCA's ongoing programme of rule simplification. CP26/22 closes on 4 September 2026 and applies to regulated insurers and insurance intermediaries, including those within the Lloyd's market, Gibraltar-based firms, and temporary permission firms.
What is not yet clear
The consultation paper sets out proposed changes to format, content, and timing of disclosures, but no implementation date or transitional period has been confirmed. The policy statement with final rules is expected by the end of 2026.
Firms not affected
If your firm does not carry out MiFID business, insurance distribution, or other designated investment business, CP26/24 does not apply to you.
