General election: “fixing cost disclosure regulation must be an urgent priority”
The AIC is urging the next government to prioritise resolving the issues with investment company cost disclosure.
The Association of Investment Companies (AIC) is urging the next government to prioritise resolving the issues with investment company cost disclosure.
Richard Stone, Chief Executive of The Association of Investment Companies (AIC), said: “It’s frustrating that the election will lead a to further delay in resolving the harmful investment company cost disclosure rules. Fixing cost disclosure regulation must be an urgent priority for the next government.
“There is broad cross-party support for the principle that government sets the boundaries for regulation and the FCA sets the rules. The incoming government on 5 July must prioritise finalising and passing the legislation which is already in process so that the FCA can reform cost disclosures.
“The simplest solution is to remove investment companies from the scope of regulated cost disclosure – returning to the position that we had before January 2018. The government must also address the misleading way in which investment company costs are presented by wealth managers and platforms. The next government should move swiftly so the FCA can stick to its current timetable and complete its work on this by the autumn.”
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- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 330 members and the industry has total assets of approximately £273 billion.
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