Funds critic appointed to come up with fee disclosure format by UK regulator – 3rd August 2017
Britain’s markets regulator has asked an academic who accused the funds industry of being in “collective denial” over fees to come up with a common format for asset managers to publish their charges. The Financial Conduct Authority (FCA) is scrutinising the £6 trillion sector to see how it can offer better value for money. Making it easier for investors to compare charges is one way of doing this. “We want to see more consistent and standardised disclosure of costs and charges to institutional investors,” the FCA said on its website on Wednesday. The regulator said it has appointed Chris Sier, a professor at Newcastle University Business School, to chair a working group of industry and investor representatives to agree a template for fund managers to disclose their costs and charges.
Huw Jones, Reuters