Investment culture in the UK has lagged behind other developed nations, and regulators are following the government’s lead in encouraging households to shift more cash savings into the financial markets. Investment firms will no longer need to produce key information documents for retail products, but will instead publish simpler “product summaries,” the FCA confirmed in a statement on Monday. The regulator also set out plans to draw “a brighter line” between retail and professional investors. Individuals with £10 million or above and those with investing experience can opt out of retail classification, enabling them to invest in riskier products while removing protections such as the FCA’s two-year-old consumer duty.