Wealth management lobby group PIMFA has welcomed the Financial Conduct Authority's (FCA) latest announcement that it is extending existing flexibility around the 10 percent depreciation notification rule for a further 12 months, until 31 December 2022.

The measures were put in place initially to help firms support consumers during market volatility linked to Covid-19 and the Brexit transitional period. The regulator said it would show supervisory flexibility to firms’ ongoi...