Baroness Sharon Bowles has secured the chance to present a private members’ bill – the Listed Investment Companies (Classification etc) Bill [HL] – in the ballot to chose the first 25 private members’ bills to be considered by the House of Lords in this new parliament.
The introduction of the bill is scheduled for Thursday 5 September.
This sounds like the phoenix rising from the ashes of Baroness Altmann’s bill that survived three readings in the Lords and would have been considered by the House of Commons if Rishi Sunak hadn’t pulled the plug on his government.
As before, this could be an important step in the fight against the cost disclosures issue, but – as before – we hope that the FCA and the Treasury pre-empt this with some new legislation to fix the problem.