The Financial Conduct Authority (FCA) has extended the suspension of the 10% depreciation rule until the end of 2022 while the government's policy work on the requirement’s future remains ongoing.
The has extended the temporary measures for firms until the end of 2022 after findings from the HM Treasury's Wholesale Markets Review (WMR) indicated "support for removing or amending the requirement." The "temporary" suspension of the rule was originally put in place following coronavirus restrictions that caused spikes of market volatility. During the early stages of the pandemic and subsequent market turbulence, the rule became burdensome on financial advisers and others as they had to report on multiple 10% portfolio drops. In March 2021, the FCA extended the suspension of the 10% d...
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