IA denies House of Lords claims of conspiratorial nature in members meeting about cost disclosure

'Divergence of interests'

The Investment Association has denied claims made by a House of Lords member that it deliberately chose to interpret cost disclosure reforms in a way that disadvantages the closed-ended fund sector during a recent members' meeting.

At the Lords Financial Services Regulation Committee hearing yesterday (13 November), Financial Conduct authority chair Ashley Alder and CEO Nikhil Rathi were questioned about the investment trust cost disclosure reforms. Sharon Bowles, who is a member of the committee and part of the investment trust campaign group which has been driving reforms for the sector's cost disclosure legislation, asked the duo to intervene and solve the current clash occurring between trusts and retail platforms as a result of the forbearance measures brought in. Back in September, the Treasury and the FCA...