Central Bank of Ireland urges ESMA to probe asset managers' fee disclosures

Following own review

The Central Bank of Ireland (CBI) has called on the European Securities and Markets Authority (ESMA) to carry out an investigation into how asset managers disclose fees charged to investors, amid concerns providers could be misleading their customers.

The Irish central bank urged the pan-European regulator to ensure rules on fund charges were "fit for purpose", following the completion of its own 18-month probe into investment fee disclosure, the Financial Times reports. According to the CBI, a Europe-wide review is required since European investors in different countries can often access funds domiciled in one EU location through cross-border rules. Warning FCA platform study could 'drive up prices' for end investors Several other European regulators have also issued warnings about fees and charges in the asset management indus...