Update: FCA call for evidence cranks up pressure on transaction cost disclosure

The Financial Conduct Authority (FCA) and Department for Work and Pensions (DWP) have added to disclosure pressures by asking whether forthcoming reporting requirements for pension schemes should be extended to fund groups themselves.

The FCA and DWP announced this morning they are seeking views on how to report transaction cost information in a standardised, comparable format. The call for evidence comes ahead of 6 April 2015 changes to workplace pensions transparency but also takes place amid greater scrutiny of fund fees more generally. Announcing the call for evidence this morning, the FCA questioned whether forthcoming regulations and rules on transaction cost disclosure should only apply directly to pension providers and trustees, raising the prospect of these requirements also falling on fund groups. “In ...