Following unacceptable findings in the second cycle of the FCA’s review of the Retail Distribution Review (RDR) the FCA has published an assessment template enabling firms to review disclosure documents against the RDR’s key requirements.

The template outlines the minimum standard expected in specific areas and may be used as a checklist.

However, the template is not exhaustive and does not replace compliance with the FCA Handbook Rules and Guidance, the Financial Services and Markets Act 2000, the FCA’s thematic findings and other regulatory requirements.

The FCA stated that firms should consider in addition their business model, proposition and services when considering how to adapt disclosure documents appropriately.

The template is to be used in the third cycle of the RDR (to begin in mid-July 2014) where significant improvement in findings regarding compliance is expected.

The FCA stated that it will consider further regulatory action against firms that fail to meet regulatory standards during this third cycle.

Copies of the  

• disclosure assessment template in pdf form, = http://www.fca.org.uk/static/documents/assessment-disclosure-template.pdf
• excel form  = http://www.fca.org.uk/your-fca/documents/disclosure-assessment-template-excel
• accompanying notes =  http://www.fca.org.uk/static/documents/notes-for-disclosure-assessment-template.pdf