Citation, commencement and extent

1.—(1) This Order may be cited as the Consumer Composite Investments (Designated Activities) (Amendment) Order 2025 and comes into force on 6th April 2026.

(2) This Order extends to England and Wales, Scotland and Northern Ireland.

Amendment of the Consumer Composite Investments (Designated Activities) Regulations 2024

2.—(1) The Consumer Composite Investments (Designated Activities) Regulations 2024(2) are amended as follows.

(2) After regulation 8 (temporary exemptions), insert—

Temporary exemptions for promotions previously subject to the PRIIPS Regulation

8A.—(1) The financial promotion restriction and the scheme promotion restriction do not apply to any communication produced during the CCI transitional period where—

(a)the communication is of a kind that would have been required by Article 13 of the PRIIPs Regulation(3) as it had effect immediately before 6th April 2026, and

(b)it complies with the requirements in the FCA CCI transitional provisions relating to that kind of communication.

(2) For the purposes of this regulation—

“the CCI transitional period” means the transitional period specified in the FCA CCI transitional provisions;

“the FCA CCI transitional provisions” means the FCA rules in DISC TP2 of the Product Disclosure Sourcebook of the FCA Handbook;

“the financial promotion restriction” means the restriction imposed by section 21(1) (4) of FSMA 2000;

“the scheme promotion restriction” means the restriction imposed by section 238(1) of FSMA 2000.

(3) Paragraph (1) ceases to have effect on 8th December 2027.”.