A bill to overhaul the cost disclosure regulation for UK investment companies is set to be discussed in the House of Lords today (13 November) and will receive its first reading on 22 November.
A private members' bill tabled by former pensions minister Ros Altmann, which urged the government to remove investment companies from the Alternative Investment Fund Managers Directive (AIFMD) regulation, was selected in the ballot last week. Altmann, supported by fellow House of Lords peer Sharon Bowles, have repeatedly called for the removal of the current EU cost disclosure rules, known as PRIIPS, which have caused investment trust charges to appear artificially expensive. MiFID II forces firms to disclose total investment cost to clients If the bill's passage through the House...
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