The Personal Finance Society has welcomed confirmation from Chancellor Jeremy Hunt that the EU’s Packaged Retail and Insurance-based Investment Products (PRIIPS) regime will be replaced with a new UK-focused regime.

The FCA has called for views on potential disclosure rules to replace the Packaged Retail Investments and Insurance Products (PRIIPs) regime and the Undertaking of Collective Investment in Transferable Securities (UCITS) rules.

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.

Wealth management trade association PIMFA has called for the Financial Conduct Authority and the Treasury to review the Packaged Retail and Insurance-based Investment Products (PRIIPs) regime rather than taking a “sticking plaster” approach.