Autumn Statement 23: FCA mulls 'interim solutions' to address investment trust cost disclosure concerns

As government seeks long-term reforms

The Financial Conduct Authority is considering "interim solutions" to mitigate the impacts of current cost disclosure requirements on investment trusts, as the government "acts to implement a long-term legislative solution to the issue".

Alongside Chancellor Jeremy Hunt's Autumn Statement delivered in parliament today (22 November), the Treasury has published a draft statutory instrument outlining the UK's new retail disclosure framework for Consumer Composite Investments (CCIs).  The document, which outlines the scope of the framework and rule-making powers provided to the FCA by the Treasury, also notes concerns about current cost disclosure requirements, and in particular their potential impact on the investment trust sector. Members of the House of Lords and industry players such as Gravis have repeatedly called f...