What FCA CP26/24 means for your disclosures

The FCA published CP26/24 on 2 July 2026, proposing to simplify how firms disclose the cost of consumer investments. The consultation closes on 21 August 2026, with a policy statement expected by the end of the year.

The proposals bring cost disclosure requirements under MiFID, the Insurance Distribution Directive and non-MiFID investments into one simplified framework. The FCA's own research found that consumers rarely read the documents they are given and, when they do, struggle to understand them. This consultation builds on the Consumer Composite Investments regime introduced in December 2025 and continues the regulator's push toward disclosure people can actually use.

Firms conducting MiFID or equivalent third country business, insurance distribution activity or other designated investment business should expect another round of document reviews and system changes once the policy statement lands.

What this means in practice.

Cost disclosure documents built separately for MiFID, IDD and non-MiFID products will likely need rebuilding to a common template, not just amending. Firms should start mapping which documents and data feeds this affects now, well ahead of the policy statement. The direction of travel is consistent, shorter disclosure that consumers can actually understand, so firms that invest in flexible, well governed document generation now will find each future round of change cheaper than the last.

We help firms turn consultations like this into a practical plan, from gap analysis through to updated documents and sign off. If CP26/24 touches your disclosures, get in touch and we can help you get ahead of it before the policy statement lands.