Following the introduction of the regulatory framework by HMT in 2024, the Financial Conduct Authority (FCA) is set to introduce a new Composite Consumer Investments regime (the CCI Regime), which is aiming to streamline and strengthen the regulatory framework for retail investment products in the UK.

The new CCI Regime places greater emphasis on consumer understanding, product governance, and the prevention of harm, aligning with the FCA’s Consumer Duty.

See an overview of the Consumer Composition Investment

Moving from PRIIPs to CCI - how we can help

Insights

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 5 – Transaction costs, cost disclosures and transitional provisions

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 5 – Transaction costs, cost disclosures and transitional provisions

In the fifth episode in our mini-series exploring the UK’s new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Anita Edwards discuss the FCA’s latest consultation paper, CP25/9, which includes proposals relating to the transaction costs methodology, cost disclosures and draft transitional provisions.

United Kingdom | Articles | May 27, 2025

Regulation Tomorrow Plus
FCA consults on further proposals for consumer composite investments regime

FCA consults on further proposals for consumer composite investments regime

On 16 April 2025, the Financial Conduct Authority (FCA) published a consultation paper, CP25/9, on further proposals on product information for consumer composite investments (CCIs).

United Kingdom | Blog | April 17, 2025

Conducts
Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 3 – Manufacturers

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 3 – Manufacturers

In the third in our mini-series exploring the UK’s new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Anita Edwards discuss the role of manufacturers under the regime.

United Kingdom | Articles | April 15, 2025

Regulation Tomorrow Plus
Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 4 – Distributors

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 4 – Distributors

In the fourth episode in our mini-series exploring the UK’s new Consumer Composite Investments regime, Joe Bamford and Simon Lovegrove discuss distributors.

United Kingdom | Articles | April 07, 2025

Regulation Tomorrow Plus
Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 2 - Disclosures

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series – Episode 2 - Disclosures

In the second in our mini-series exploring the UK’s new Consumer Composite Investments regime, Joe Bamford and Anita Edwards discuss the proposed disclosures that would be required under the new regime – the Product Summary Disclosure and the Core Information Document.

United Kingdom | Articles | March 17, 2025

Regulation Tomorrow Plus
Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series - Episode 1 – Setting the scene

Global Regulation Tomorrow Plus: Consumer Composite Investments mini-series - Episode 1 – Setting the scene

In the first in our new mini-series exploring the UK’s new Consumer Composite Investments regime, Matthew Gregory, Joe Bamford and Simon Lovegrove set the scene by covering at a high level who the new regime applies to, the impact on unauthorised firms, disclosures and timing generally.

United Kingdom | Articles | March 03, 2025

Regulation Tomorrow Plus
FCA CP24/30 ‘A new product information framework for Consumer Composite Investments’

FCA CP24/30 ‘A new product information framework for Consumer Composite Investments’

On 19 December 2024, the Financial Conduct Authority (FCA) published Consultation Paper 24/30 ‘A new product information framework for Consumer Composite Investments’ (CP24/30).

United Kingdom | Blog | December 19, 2024

Conducts
The Consumer Composite Investments (Designated Activities) Regulations 2024

The Consumer Composite Investments (Designated Activities) Regulations 2024

On 21 November 2024, the Consumer Composite Investments (Designated Activities) Regulations 2024 were made and published on legislation.gov.uk, along with an explanatory memorandum.

United Kingdom | Blog | October 22, 2024

Conducts
The draft Consumer Composite Investments (Designated Activities) Regulations 2024

The draft Consumer Composite Investments (Designated Activities) Regulations 2024

On 10 October 2024, the draft Consumer Composite Investments (Designated Activities) Regulations 2024 were published (the draft Regulations) were published on legislation.gov.uk, along with a draft explanatory memorandum.

United Kingdom | Blog | October 11, 2024

Conducts


Contacts

Jonathan Herbst
Jonathan Herbst
Global Head of Financial Services
Email
jonathan.herbst@nortonrosefulbright.com
T: +44 (20) 74443166
Hannah Meakin
Hannah Meakin
Partner
Email
hannah.meakin@nortonrosefulbright.com
T: +44 (20) 74442102
Katie Stephen
Katie Stephen
Co-Head of the Contentious Financial Services Group, London
Email
katie.stephen@nortonrosefulbright.com
T: +44 (20) 74442431
Matthew Gregory
Matthew Gregory
Partner
Email
matthew.gregory@nortonrosefulbright.com
T: +44 (20) 74442467
Joe Bamford
Joe Bamford
Senior Associate
Email
joe.bamford@nortonrosefulbright.com
T: +44 20 7444 2140
Simon Lovegrove
Simon Lovegrove
Global Director of Financial Services Knowledge, Innovation and Product
Email
simon.lovegrove@nortonrosefulbright.com
T: +44 (20) 74443110

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Recent publications

Publication

Financial Conduct Authority consults on handbook changes following proposals for targeted support for pensions and retail investment decisions

The FCA has published a consultation paper (CP25/26) on additional changes to its handbook to ensure that its proposals for a new form of targeted support for consumers' pensions and retail investment decisions work with existing rules.

United Kingdom | October 20, 2025

Financial institutions

Publication

Pensions Regulator blogs on industry innovation

The Regulator’s most recent blog post reports on its recent innovation event where more than 50 industry leaders gathered to explore how to build a more creative, inclusive and user-centred future for workplace pensions.

United Kingdom | October 20, 2025

Financial institutions

Publication

HMRC publishes pension schemes newsletter 173: Tax treatment of tax-free cash returned to schemes

HMRC published its most recent pension schemes newsletter on September 25, 2025. The publication addresses the tax treatment of tax-free lump sums paid back into registered pension schemes where they are not covered by FCA cancellation rights.

United Kingdom | October 20, 2025

Financial institutions
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