FCA proposes complete transparency for asset managers on pension scheme transaction costs

In a new set of rules aimed at standardising the disclosure of transaction costs incurred by pension investments, the FCA also suggested asset managers should provide a breakdown of transaction costs on request. It said the breakdown should be separated into categories of identifiable costs, which could include specific charges like taxes and securities lending fees. The FCA said the proposed new rules - open for consultation until 4 January 2017 - will deliver a high degree of consistency in how transaction costs are reported, and will give governance bodies confidence information pr...