See you around, KID: our take on the FCA's final rules for CCIs

Just before Christmas, the FCA slid their long-awaited final rules for Consumer Composite Investments ("CCI"), under the Christmas tree. The rules, published in policy statement (PS25/20), will replace the “rigidly-templated”, “complex” and “unclear” PRIIPs and UCIT disclosure framework for UK retail investors.

The new CCI regime will become effective from 8 June 2027 for all CCIs - but manufacturers will be able to switch from preparing a PRIIPs KID/UCITS KIID to a CCI product summary document from 6 April 2026.  Firms will need to consider how to implement this new, more qualitative disclosure regime for products where returns depend on underlying or reference assets. 

Further reading

Read our note 'See you around, KID: our take on the FCA's final rules for CCIs' for our view's on the FCA's finalised disclosure framework for CCIs, and the practical next steps firms should be taking to prepare for this fundamental change to the UK retail disclosure landscape.

Webinar

We will be running a webinar on 14 January 2026, at 10:00-11:00 (GMT), during which we will consider the key areas of uplift for firms under the new regime, including Consumer Duty alignment; co-operation with manufacturers; updating compliance frameworks; and monitoring. Register here.