The UK’s financial watchdog has released a second stage of its Consumer Composite Investment (CCI) consultation, this time focused on the much called for fee simplification.
The Financial Conduct Authority first opened up the dialogue to CCI reform in December last year, when it pledged to replace the EU-inherited PRIIPs framework with this new methodology. The initial response was joyous from the industry, especially the closed-ended side which had long lobbied the government and regulators to address these now recognised ‘inaccurate' and ‘misleading' cost rules. Friday Briefing: If we can't even get cost disclosures right, the UK has no hope of catching up with the US The mood quickly shifted however, when details began to emerge ...
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