The FCA has published a consultation paper, CP15/32 on removing ineffective disclosure requirements in the FCA Handbook.  This CP follows on from the FCA’s discussion paper (DP15/5) which was published in June 2015 on smarter communications in which, among other things, it announced its intention to consult on removing ineffective disclosure requirements.  The FCA is proposing to amend rules and guidance in its Handbook by: (i) removing the requirement for firms to produce a consumer-friendly principles and practices of financial management, which relates to with-profits business; (ii) deleting the requirement on certain firms (including authorised fund managers of UCITS schemes and non-UCITS retail schemes) to product a short report for investors in retail authorised funds; (iii) deleting the initial disclosure document and the combined initial disclosure document, these being templates introduced by the Mortgages and Home Finance Conduct of Business sourcebook and the Insurance: Conduct of Business sourcebook; and (iv) deleting the template for the services and costs disclosure document, which is  a template introduced by disclosure rules in the Conduct of Business sourcebook, relating to packaged products.  The consultation closes on 18 December 2015. The FCA intends to publish its final rules in a policy statement in early 2016 and is currently reviewing the feedback received on DP15/5.