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UK financial sector sees proposal to cut some consumer protection rules

( March 25, 2025, 10:13 GMT | Official Statement) -- MLex Summary: The UK financial sector has seen proposals to streamline rules and reduce burdens on businesses following the introduction of the Consumer Duty in a feedback statement from the Financial Conduct Authority. Potential changes would be delivered quickly as the FCA pledged to act through an accelerated consultation process. Initiatives to cut red tape include removing some prescriptions in financial promotions rules, increasing flexibility in retail banking disclosures, and reviewing the international application of its conduct rules. The FCA will seek further input from the industry later this year. Feedback statement is attached....

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