NAPF refutes 'absurd' claims of charges get-out clause

The Guardian reported this morning that a leaked draft of the voluntary code, being compiled by the NAPF along with industry support, included a "get-out clause" that exempts trading costs. The newspaper said without trading costs there would not be comprehensive disclosure on charges as this would exclude commission fees and other investment charges. But the NAPF has dismissed the report in strong terms, arguing transaction costs are still under discussion. A spokesman for the NAPF said: "Discussions on the code are not complete. Transaction costs are still on the agenda and have ...