The FCA has made it easier for Financial Planners to find up-to-date supervisory communications on its website.

From next Wednesday, 30 April, it will stop issuing and publishing portfolio letters, but will retain its Dear CEO letters for significant issues.

Instead, the regulator said it will publish a small number of market reports.

The market reports will include communications relevant to different types of firms and insights from the FCA’s supervisory work.

The regulator said it was also making it easier for firms to find up-to-date supervisory communications on its website by retiring historical portfolio letters and Dear CEO letters.

They will be marked as 'historical' and no longer current, with a few exceptions. Historical documents will remain publicly accessible at existing links, the FCA said.

The action is being taken as part of the FCA’s Consumer Duty Requirements Review.

The FCA said: “We’re streamlining how we set our supervisory priorities to support our commitment to smarter, more effective regulation.”

Until market reports are published later this year, the FCA said firms should continue to refer to relevant portfolio letters and Dear CEO letters for guidance.

It said: “We'll continue to review our approach to other historical communications and consider how we can routinely review outdated material.”

Dear CEO Letters will still be used to address senior people management about significant issues that require action.

The Consumer Duty sets a high standard of care that firms must give to their retail customers, the FCA said.

It added: “Its introduction provides us with an opportunity to consider whether we could help firms and support innovation by removing detailed and prescriptive requirements that cover similar issues, and where similar customer outcomes could be achieved with greater flexibility.”