The FCA’s rules often require some decoding. In highly technical or nuanced areas, they can be understandably dense or tough to follow.
A prime example of this was flagged by former Money Marketing editor Natalie Holt on Twitter recently, regarding how the FCA will judge collective investment appropriateness under the EU’s Mifid II directive.
Classic clarity from the FCA on Mifid II: pic.twitter.com/0RsHichhnd
— Natalie Holt (@NatalieHNucleus) August 30, 2017
Former FCA board member Mick McAteer suggested we throw the rules open to suggestions as to how to simplify this in fewest words without losing regulatory accuracy.
A number of Money Marketing readers have answered the call, so we’d like to make our informal contest a little more formal.
Current frontrunner is pensions tech provider Systemsync Solutions’ Alan Chaplin, who reduced the Mifid tangle to: “Collective investment undertakings might be complex”.
Others took the call a little less seriously, like Red Circle’s Darren Cooke, who suggested the wording could be replaced with: “We don’t know what we’re doing (chant and repeat football terrace style)”.
Or Twitter user Kieran, who summed up the FCA’s position as: “No matter what you advise it could still be wrong “.
If you can go one better, or have other rules you wish to simplify, do send them to Money Marketing editor Justin Cash on firstname.lastname@example.org.