Tag Archives: Disclosure

FCA publishes package of asset management remedies

FCA has released several documents resulting from its asset management market study. The key documents are: final rules focussing on the duties of fund managers as agents of the fund investors. The changes will require fund managers to make an annual assessment of value and to appoint at least 2 independent directors comprising at least 25% of […]

FCA focuses on closet trackers

FCA has updated on its work reviewing potential closet tracker funds and closet constrained funds – funds that look like and charge fees in the same way as active funds do, but are managed like passive funds. Closet constrained funds do make active decisions, but on a restricted basis around their benchmarks. FCA is concerned […]

FCA publishes IDD papers

FCA has published its policy statement on its first consultation on IDD implementation, including near final rules, and has also published its third consultation with further proposals. The IDD must be implemented by 23 February 2018. The near final rules cover changes to reflect: application of the IDD: FCA has clarified how the rules apply […]

FCA makes new rules

FCA’s latest Handbook Notice confirms it has made rules amending: TC to update the qualification table COBS and MCOB in respect of the smarter communications initiative, in particular to address the risks of over-disclosure COBS to enable governance bodies of relevant pension schemes to get information to allow them to assess transaction costs the Listing […]

IOSCO consults on fund liquidity risk management

IOSCO is consulting on recommendations and good practices in liquidity risk management for funds, and has accompanied the consultation with examples of good and bad practices. The consultation builds on a report in 2013 and addresses structural vulnerabilities the FSB has identified. The papers covers: investor disclosure alignment between asset portfolio and redemption terms availability […]

FCA publishes final asset management market study report

FCA has published the final findings from its asset management market study. It has considered the responses it received following its interim report and is now proposing a package of remedies falling into three broad categories: protection for investors who are not well placed to find better value for money; driving competitive pressure on asset […]

FCA publishes assessing suitability review

FCA has published the findings of its review into the suitability of advice given by firms on pensions and investments.  The review started a year ago, and assessed over 1,000 pieces of advice given by 650 firms for compliance with the COBS suitability and disclosure rules. FCA was pleased with the results on suitability, that showed […]

FCA makes PRIIPs disclosure rules

FCA has made the rules that will change disclosure requirements on application of the PRIIPs Regulation, which should be from 1 January 2018.  FCA has provided as much clarity and certainty as it can, to help firms prepare for the changes. The paper includes feedback on FCA’s consultation, and guidance on whether certain products will […]

Investment Association consults on disclosure

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 […]