The MiFID II requirements for calculating the underlying transaction costs within a fund are still "proving contentious", according to a new report from KPMG.
In its annual Evolving Investment Management Regulation (EIMR) report, KPMG said the asset management industry had been globally hit by "swathes" of new regulation to implement over the past year. The issue of costs and charges thereby "sits squarely at the heart of the reform agenda in the investment and fund management industry." Under MiFID II, set to be implemented in January 2018, distributors in financial services are required to provide clients with the total cost of ownership, which includes aggregate figures for the cost of investing, both within the product and along the d...
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