“A win for consumers and investment companies”

The Association of Investment Companies (AIC) has responded to the FCA’s consultation paper ‘Simplifying Consumer Investment Disclosures’ (CP26/24), which addresses the post-sale cost disclosures that, come under the MiFID (Markets in Financial Instruments Directive) rules.

Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “This is a win for consumers and investment companies. Consumers will have helpful cost information so they can make better investment decisions. For investment companies, these rules promise to end misleading cost disclosures. They also remove a barrier to wealth managers investing in investment companies.

“We welcome the FCA’s recognition of investment companies’ unique characteristics. We will work with the FCA and the industry to ensure these proposals deliver the required benefits for consumers. 

“This is the beginning of the end of a long industry campaign on cost disclosures. We’d like to thank everyone who has contributed to this outcome.”