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FCA working group mulls multiple fund charge templates

FCA logo glass 620x430The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable.

The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in the FCA’s final report into the asset management industry

An update on the working group’s progress at December says the group has looked into whether the template could be split into different, smaller templates for specific asset classes.

The update, published on the FCA’s website, says some members of the group have also suggested different templates for different investor types.

It says these would take into account “the levels of support available to them and striking the balance between the benefits of fuller information with simpler more accessible disclosure information”.

The update says: “However, the IDWG has also agreed that there are practical benefits of one combined and simple template. The IDWG has agreed to continue to make progress on the underlying materials and will decide at a later date whether one or multiple disclosure templates is most suitable as their final recommendation.”

Working group chair Chris Sier this week apologised to the FCA and the Investment Association for criticising asset managers in an interview with The Times.

In the interview Sier called the investment industry “arrogant and complacent” on fees and referenced the quality of the work the IA did for its members.



Transparency champion apologises for mudslinging at asset managers

The chair of an FCA working group has apologised to the FCA and the Investment Association for criticising asset managers in a high-profile interview.  In an interview with The Times, transparency campaigner Chris Sier, who is chairing the regulator’s disclosure working group, called the investment industry “arrogant and complacent” on fees and referenced the quality […]

FCA disclosure panel debates ‘potentially undesirable’ commission costs disclosure

An FCA panel has said that including trading commission costs could be “potentially undesirable” as it works to set a new charges disclosure template for asset managers. In a note published today on its latest meeting, the institutional disclosure working group, chaired by Chris Sier, has discussed further developments for the template it is likely […]

fee template

Asset managers brace for fee template as FCA unveils plans

A new FCA committee has set the timeline for its fee template for asset managers as it publishes details of how it will go about its analysis. Money Marketing earlier this week the disclosure working group set up by the FCA following its final report into the asset management industry was about to set out the objectives […]


Pru and SimplyBiz in protection tie-up

Prudential Financial Planning has agreed a panel arrangement with SimplyBiz that will see it offer protection products from eight providers as it moves forward with plans to expand its advice arm. Prudential previously only offered protection products from one provider, Vitality. Through the panel Prudential advisers will have access to policies from AIG, Aviva, Legal […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]


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