Global Trustee and Fiduciary Services Bite-Sized Issue 4 2026

24 QUICK LINKS CMU CONDUCT CRYPTO ASSETS EMIR FINTECH FUND LIQUIDITY IOSCO OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 4 | 2026 FCA Plans to Help People get More Financial Advice for Important Decisions On 25 March 2026, the FCA published a consultation on how to make it easier for firms to give more simplified forms of individualised financial advice to consumers. The FCA says simplified forms of advice can help consumers with more straightforward needs and do not require a full assessment of all their financial circumstances, making it more accessible and affordable. The FCA says that to encourage innovation and open access, it is proposing to make small changes while maintaining appropriate consumer protections, which it believes can revitalise the sector, including: • Simplifying and consolidating the suitability framework into one set of common rules and expectations; • Clarifying existing flexibilities in suitability rules with an expectation that advisers consider ‘sufficient’ information; • Rebalancing the role and purpose of suitability communications to support firms making them concise, consumer-focused and proportionate; and • Changes to give firms greater flexibility in how they design and deliver ongoing advice services. This includes moving from a fixed annual suitability review to periodic reviews based on clients’ needs. The FCA says it is starting a discussion about the future of trail commission to modernise the rules and to prevent potential consumer harm. Qualification standards for advisers will remain unchanged. The FCA is also not proposing to change the adviser charging rules. Advice will still need to be paid via agreed-upon adviser charges rather than provider-paid commission or through cross-subsidisation. The FCA says it has already acted to help consumers get more support. From April some financial firms will be allowed to offer targeted support and suggest products to consumers based on what they would recommend to those in similar circumstances. The FCA says that, other than updating its perimeter guidance, this is the final piece in its policy work to make sure that the advice market works for the millions who depend on it for their financial futures. Link to Consultation here Targeted Support: FirmConsiderations When Designing Consumer Segments On 23 March 2026, the FCA published good and poor practices firms designing consumer segments for targeted support. When the FCA published its policy statement (PS25/22) on targeted support, it said that it would publish further detail to support firms inmaking judgements when designing consumer segments. The FCA says this webpage shares various practical examples to help firms make these judgements. The good and poor practices cover: • Defining common characteristics; • Considering data held on a consumer; and • Using reasonable assumptions. Link to Good and Poor Practices here