Investment trust sector rejoices 'seismic' changes to cost disclosure rules ending 'years of pain'

A year after first House of Lords bill attempt

Members of the investment trust community celebrated a significant win today (19 September) in their battle to overturn the cost disclosure regime, after the government and Financial Conduct Authority collaborated on an immediate rule change following months of campaigning.

As reported by Investment Week, the Treasury and the FCA have moved to temporarily make investment trusts exempt from complying with cost disclosure requirements with the view of bringing in wider reforms next year. FCA and government lift investment trust cost disclosure requirements as they plan reforms The move is part of the replacement of EU-inherited consumer disclosure regulation with a new framework for UK markets and firms. Investment trusts were subject to the Packaged Retail and Insurance-based Investment Products (PRIIPs) regulation and the Markets in Financial Instrume...