The Treasury is consulting on whether to axe the 10% drop rule which requires advisers to write to clients if their portfolios drop by 10% or more.

The FCA is to extend the Coronavirus freeze on 10% drop notices until the end of the year and will consult on their future in the spring.

A total of 546 firms have admitted to errors in their MiFID II transaction reporting to the FCA since the new requirements began just under two years ago, according to a study out today.

The FCA is to introduce a new form for MIFID II-regulated firms requiring them to provide information on management changes.