Regulator reforms trusts' cost disclosure rules after years of campaigning

As part of a fleet of regulatory updates published this week, the FCA unveiled its long-awaited final rules for Consumer Composite Investments (CCI), which the UK trust sector in particular has been keenly awaiting. Going forward, the FCA will not require other funds to pull through the costs of investment companies when investing in them. When the FCA first floated its ideas on how to disclose product costs earlier this year, it initially planned to exclude passive funds from disclosing these ‘pull-through' costs. This sparked an enormous amount of backlash from the investment sec...