FCA finalises targeted support rules: Applications now open

On 2 March 2026, the Financial Conduct Authority (FCA) confirmed the finalisation of its rules on targeted support, marking an important milestone in developing a more robust and supportive framework for firms providing financial support to consumers. 

Filling the gap between generic guidance and individualised advice, the new regime will enable firms with permission to provide targeted support to deliver suggestions to their retail clients that are designed for groups of consumers with common characteristics. This is intended to help consumers to better navigate their financial lives and make important decisions about their pensions and investments.

Following the publication of its policy statement (PS25/22) outlining the near-final rules for targeted support in December 2025 (which we reported on in detail here), the FCA has now formally approved these as final, subject to a small number of minor amendments. This confirmation provides firms with greater clarity on the regulator’s expectations and the operational requirements associated with offering targeted support. 

Firms can now review the final rules and the accompanying Handbook Notice for full details of the new regime. 

Preparing your application

Firms can now submit applications for targeted support permissions through Connect, where the relevant forms and guidance are already available. 

The FCA’s Pre‑Application Support Service (PASS), which was extended to firms planning to apply for permission to offer targeted support last year, remains open for use. PASS is a free, voluntary support service which enables firms to discuss their proposed approach with the FCA at an early stage, helping them understand regulatory expectations, identify potential issues and prepare a more robust application. Pre‑application meetings can be requested via the PASS section of Connect.

Next steps

The final targeted support rules will take effect from 6 April 2026.

In addition, the FCA plans to consult on simplifying and consolidating its investment advice rules and guidance in early 2026. This upcoming consultation will be of particular interest to firms seeking greater clarity around the boundary between advice and other forms of support, and on how the targeted support regime will interact with the wider advice/guidance landscape. 

Firms considering providing targeted support should review the full details of the new framework, begin developing their consumer segment strategies, and make use of the available FCA support where needed to ensure readiness ahead of go-live.