By:Elliot Gulliver-Needham, Thursday 19 September 2024: The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their […]
This morning, HM Treasury, the FCA, and Tulip Siddiq (Economic Secretary to the Treasury and City Minister) announced plans to reform UK retail disclosure rules. They also said that, in the meantime, investment trusts will be temporarily exempted from assimilated EU law requirements (i.e. compliance with EU-inherited Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulations). […]
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 […]
Lord Forsyth of Drumlean, chair of the Financial Services Regulation Committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), pushing for a resolution to the cost disclosure issue that has been plaguing the investment companies sector. This is a very welcome intervention, we think, and hopefully it will add to […]
QuotedData’s James Carthew recently interviewed the two Baronesses that are part of the team fighting to fix the sector’s cost disclosures problem. 0:00 – Why and how did you get involved in the campaign? 3:31 – Why is this issue important for investors? 8:18 – Is legislation the answer to resolving this issue? 14:50 – […]
We have co-signed a letter in today’s Times that calls for more urgent action on cost disclosures. You can read the letter on The Times site here Or you can see a version with the full list of signatories at the new website dedicated to this issue here James & Ed
Since October 2023, we have been keeping you up to date with the investment companies industry’s fight to address misleading cost disclosures. Yesterday, we joined with around 300 co-signatories in submitting a response to HM Treasury’s call for comments on its proposed solution. You can read the document here. It is more than a little […]
by Val Cipriani, Investors’ Chronicle, November 30, 2023: A reform of the requirements to disclose costs could increase demand for investment trusts, potentially helping to narrow discounts to net asset value (NAV) in the sector. As part of last week’s Autumn Statement, the government published documents on how it plans to replace the current European […]
Lauren Hardy, Portfolio Adviser, 22 NOVEMBER 2023: The Financial Conduct Authority (FCA) has been given the power to overhaul issues with cost disclosure regulation unfairly penalising investment companies, it has been confirmed in the statement accompanying today’s (22 November) Autumn Statement. While the move has been applauded, others are disappointed by the pace of change […]
Eve Maddock-Jones, Investment Week, 17 November 2023: A private members’ bill tabled by former pensions minister Ros Altmann, which urged the government to remove investment companies from the Alternative Investment Fund Managers Directive (AIFMD) regulation, was selected in the ballot last week and will have its first reading on 22 November. Following a debate on […]
