The disclosure regime should reflect the digital age and how consumers obtain and use information in other walks of life, according to Aegon.

Sheldon Mills, the FCA’s executive director of competition and consumers, today warned Financial Planning and other financial firms that haven’t taken action that the Consumer Duty “will not go away”.

The Financial Conduct Authority is seeking views on regulatory changes that might help the UK’s asset management industry, as well as better supporting the investors it serves and boosting competition.

The Financial Conduct Authority is in advanced confidential discussions with Link Group and Link Fund Solutions to determine whether the FCA’s proposed enforcement action against the latter can be resolved by agreement.