On 30 June 2025, the HM Treasury (HMT) announced that the Government will publish proposed draft legislation to support the FCA’s new ‘targeted support’ regime. This regime forms part of the government’s workplace pension roadmap and other complementary measures to address the challenges faced by pension savers. The FCA’s ‘targeted support’ regime enables authorised firms to provide more support to consumers with their pensions and investments, making suggestions where appropriate to consumers who, at a high-level, fall under similar characteristics or circumstances.

The Government will publish a policy note setting out the proposed changes to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO).

The policy note and draft statutory instrument will be published alongside the Chancellor’s Mansion House speech on 15 July 2025.