The FCA has published new rules and guidance on disclosure for asset managers as the regulator aims to "make it easier for investors to choose the best fund" and meet their investment objectives.
The new requirements are the result of the Financial Conduct Authority's (FCA) 2017 Asset Management Market Study (AMMS), which found evidence that fund charges are not always visible to retail investors and, when they were, investors might not pay sufficient attention to charges or understand their impact on investment returns. As a result of the AMMS, which also found evidence of weak price competition in the sector, the FCA published new rules in April 2018 that it said will "ensure fund managers act as agents of investors in their funds". These new rules take effect in September 2019...
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