Page 48 - 期货和衍生品行业监管动态（2023年12月刊）

期货和衍生品行业监管动态

We are taking steps to address concerns that current disclosure obligations are

producing unhelpful cost information for consumers.

To support better cost disclosure, we will allow funds to provide a factual

breakdown of the component parts of their costs.

This will enable funds to provide additional context where they are concerned that

the aggregate figure currently required by legislation does not accurately reflect

ongoing costs.

This measure is not intended as a long-term solution, but is a step towards wider

reform.

Investment companies, and funds that invest in investment companies, can also

consider how they reflect this additional information in their wider disclosure

documents. We also expect firms to consider their obligations under the Consumer Duty.

These changes support our objectives under the Consumer Duty, that consumers
receive the information they need, at the right time, and presented in a way that they

understand.

We are already working towards wider changes to the cost-disclosure regime,

subject to legislative change, including the revocation of PRIIPs Regulation.

In its recent Policy Statement, the Treasury has committed to repeal relevant

MiFID cost and charges provisions. This will allow us to design and deliver a

comprehensive and cohesive cost disclosure framework. We look forward to the

opportunity to implement the future retail disclosure regime.

The FCA will continue to work closely with the Treasury to ensure the Future

Disclosure Framework improves market transparency, competition, and consumer

protection.

Further information

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