In a joint UKSA/ShareSoc response on 4 Feb 2022, we said we do not agree with your overall tentative conclusion that IFRS 17 meets the criteria of understandability, relevance, reliability and comparability required of the financial information needed for making economic decisions and assessing the stewardship of management.
The consultation paper can be read here: https://assets-eu-01.kc-usercontent.com/99102f2b-dbd8-0186-f681-303b06237bb2/2994263f-e03c-45d4-9fcd-933f0b19cb56/UKEB%20IFRS%2017%20DECA.pdf
Our full response can be read here UKEB-Invitation-to-Comment-IFRS-17-ECA-UKSA-ShareSoc-response
by Cliff Weight, Policy Director, ShareSoc
In a detailed 12 page response to the FCA Consultation, ShareSoc made the following key points:
We welcome consultation paper CP21/36 and its proposed new Consumer Duty, which we believe will set clearer and higher standards.
We believe that the proposal should be labelled as a Duty of Care. We do not understand why the FCA has not done this. We also believe it is not clear whether the FCA’s central proposal is intended to create a duty of care. We ...