The FCA has made significant changes to the rules on Packaged Retail and Insurance-based Investment Products (PRIIPs) in one of its first major moves away from EU regulation.

The FCA has urged financial services firms to be ready for the end of the Brexit transition period on 31 December as it prepares to make 300 updates to its website.

The FCA’s Financial Services Register will be offline for five days from 31 December to 4 January while the regulator makes Brexit-related changes.

The FCA is seeking industry views on a new prudential regime for UK investment firms which would mark a major change for MiFID investment firms and mean exiting the EU regime.