The Investment Association is consulting on an industry code for standardising disclosure for charges and transaction costs. The Code is designed to help trustees and governance committees of pension funds to access and scrutinise costs, give distributors the information needed to make disclosures compatible with MiFID 2 and PRIIPs requirements, and also help make the industry more efficient. The industry wants to engage with regulators, Government and consumer bodies to see how the information can be translated into consumer-friendly documents. It hopes the Code can start these discussions, and that FCA will recognise it in the same way it has recognised the current Pension Fund Disclosure Code, which it would replace, as well as replacing the CIS Disclosure Code. Consultation closes on 19 May.
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