The FCA tested 172 documents.
None met the benchmark.

The FCA reviewed 172 pre-sale investment disclosure documents using Amplifi's Intelligibility Risk platform. Every one scored below the benchmark for a GCSE reading level. The results are now a sector wide standard ahead of the 2027 Consumer Composite Investments rules.

The Result

Word complexity was the main issue, driven by industry jargon, technical phrases, and drafting choices across the board.

Why It Matters

Intelligibility goes beyond readability. Under the Consumer Rights Act 2015, terms must be clear and understandable, this review shows many firms fall short.

What's Next

The FCA will repeat this review next year using Amplifi. Expect similar studies across credit cards, debt, and legal agreements.

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The FCA used Amplifi to benchmark the investment market

The FCA tested 172 documents. None met the benchmark.

“68% of consumers are more likely to engage with companies that demonstrate a strong commitment to compliance.”

The FCA tested 172 documents.
None met the benchmark.