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European regulator issues ‘closet trackers’ warning

The FCA is being urged to scrutinise Ucits funds after research by an influential European regulator revealed up to 15 per cent are “closet trackers”. Research by the European Securities and Markets Authority of Ucits funds across Europe found between 5 and 15 per cent of the funds it examined are closet trackers, but charging […]

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MAS urged to ditch ‘unnecessary’ lobbying and focus on cost-cutting

The Money Advice Service is under pressure to ditch “unnecessary” lobbying activity as part of a drive to cut costs and reduce advisers’ levy bills. In its response to MAS’ consultation on its 2016/17 business plan, Apfa attacks the organisation’s proposal to measure its success in meeting its objectives through “demonstration of influence in regulatory, […]

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FCA: EU disclosure rules confuse consumers

The FCA is warning onerous European disclosure requirements risk disengaging consumers and damaging their ability to make decisions. In the regulator’s response to the European Commission’s call for evidence on Europe-wide regulation, it says firms are forced to disclose an ever-increasing amount of information. Regulations such as Mifid II and Priips risk “confusing and discouraging […]

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