FCA chief executive Andrew Bailey has said the regulator will take action to address the unintended negative implications of European regulatory standards PRIIPS and MiFID II as early as next month.
Both regulatory frameworks came into effect in January 2018 and have both caused concerns among the asset management industry with regard to their disclosure requirements. Speaking at the Financial Conduct Authority's (FCA) Asset Management Conference 2018 today, Bailey said: "Our supervisors have begun work to analyse how costs and charges disclosure reforms are working in practice and we will publish a report for input next month to explore the scale of the potential problems". PRIIPs requires asset managers to provide a Key Information Document (KID), which has received much critic...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
