Recommendation 186

On 29 July 2024, the FCA launched a Call for Input to review how it can simplify its regulatory requirements following the introduction of the Consumer Duty. The FCA stated that it was aimed at identifying where it can refine its retail conduct rules and guidance and address any potential areas of “complexity, duplication, confusion, or over-prescription, which create regulatory costs with limited or no consumer benefit.” 287 The FCA’s Call for Input closed on 31 October 2024. 288 In March 2025, it published an update on the actions it plans to take in response to the consultation, which included a mortgage rule review. 289 The FCA has said it will set out further actions in September 2025. 290