More 'skin in the game'? interactive investor calls for US-style fund disclosure rules

Overhaul of transparency guidance urged

interactive investor is calling for new rules requiring fund managers to disclose how much they have invested in the funds and investment trusts they manage to increase transparency regarding their "skin in the game".

The direct-to-consumer investment platform has written to the Financial Conduct Authority and the Financial Services Consumer Panel, calling for measures to be brought in similar to those in the US. In the US, the SEC has required fund managers to disclose how much they invest in their own funds, "to help investors assess the extent to which the portfolio manager's interests are aligned with theirs" and the UK should be looking to do the same, ii said. The SEC requires fund managers to disclose their financial interest by band, rather than precise amount. The bands are: none, $1-$10,0...