Asset managers to receive FCA cost disclosure template this week
By Valentina Romeo
A draft of the template for the disclosure of transaction costs and charges set up by an FCA panel will be released by the end of this week, Money Marketing understands.
The institutional disclosure working group is an independent panel created by the regulator last September following the package of remedies outlined in the FCA’s final report into the asset management industry.
The group, chaired by transparency champion Chris Sier, has been asked to come up with a standard template for a more transparent disclosure of the costs and charges that asset managers were asked to adhere to at the end of 2017.
The disclosure template, which will be distributed more widely to companies, is not compulsory for pension funds and asset managers but is meant to disclose granular data on costs and returns to investors.
In March, the panel created an additional group to work on the complex data collection in the defined benefit and defined contribution pension space. Also discussed was how new European rules brought in by Mifid II and Priips could interact with the template.