From April 2026, the transitional period for the FCA’s new Consumer Composite Investments (CCI) rules begins. These introduce a new set of product disclosures called product summaries, which replace today’s Key Information Documents (KIIDs) and Key Investor Information Documents (KIIDs). The FCA believes that product summaries will be more engaging and work better for customers.
There’s an 18-month transition period until 8 June 2027. Although fund managers can move to product summaries from as early as 6 April 2026, this is more likely to begin in 2027. This means you may see a mix of KIIDs/KIDs and product summaries in online journeys and documents during the transition. We’ll update these ahead of the June 2027 deadline.
Aside from the new disclosure format, nothing changes to how you invest, trade or service your clients.
You find out more about CCI in Steven Cameron's Thinking ahead article