AIC urges Treasury to exempt VCTs from cost disclosure requirements

Amendment to draft legislation

The Association of Investment Companies has called on the Treasury to exempt venture capital trusts (VCTs) from cost disclosure regulations.

On Monday (7 October), the government set out draft legislation to exclude investment trusts from the requirement to produce key information documents (KID), as PRIIPs and MiFID rule. However, VCTs have not been included in this exemption despite previous assurances from the government that they would be, the trade body said. Government's draft proposal for cost disclosure reform outlines scale of misregulation The publication of the draft legislation followed news in September that the Treasury and the Financial Conduct Authority would temporarily make trusts exempt from complying...