FCA and government lift investment trust cost disclosure requirements as they plan reforms

The move is part of the replacement of EU-inherited consumer disclosure regulation with a new framework for UK markets and firms. Following a Treasury consultation on replacing the EU Packaged Retail and Insurance-based Investment Products (PRIIPs) regime with a Consumer Composite Investment (CCI) framework, the Treasury said it will lay legislation "as soon as possible" to provide the FCA with the "appropriate powers to deliver this reform". The CCI regime will provide more flexibility and tailored rules to address the concerns created by the current cost disclosure requirements, inc...