The Consumer Composite Investments (CCI) regime is the UK’s new disclosure framework for retail investment products, replacing the PRIIPs Regulation and UCITS KIID requirements. Final rules were published by the FCA on 8 December 2025.
The rules introduce a more flexible, outcomes-focused approach to product disclosure, with the Consumer Duty at its heart. Manufacturers must produce a “product summary” containing standardised information on costs, risk and return, and past performance, but have freedom over design and format. Distributors must make product summaries available to consumers and highlight key information at the point of sale.
The regime applies to a broad range of products including open-ended funds, closed-ended investment funds, insurance-based investment products, structured products and contracts for difference, among others. Around 12.5 million UK adults currently hold a CCI, which makes this a regime with significant consumer reach.
Key dates:
- 8 December 2025: Final rules published
- 6 April 2026: Legislation commences; optional transition begins
- 8 June 2027: Full regime in force
We are on hand to help.
Latest insights
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The FCA’s proposals to overhaul the elective professional client regime represent one of the most significant changes to UK conduct regulation since Brexit.
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Key Contacts
Jamie Gray
Partner
Financial Services Regulatory
Jamie specialises in financial services regulatory advice and counsels banks, investment firms, corporate finance and private equity houses.
Caroline Stevenson
Head of Financial Services Regulatory
Financial Services Regulatory
Caroline is head of our Financial Services Regulatory team, with dual qualification and relevant experience in retail banking.
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