Industry reaches Consumer Duty stalemate and calls for FCA to provide further clarity on cost disclosure reforms

Meanwhile, retail investment platforms are raising similar client protection concerns as part of an ongoing debate over the sector's cost disclosure reform. Closed-ended investments had been subject to two EU directives, PRIIPS and MiFID II, which targeted non-UCITS vehicles and required them to be more transparent with their cost disclosures. Back in September, the Treasury and the Financial Conduct Authority moved to temporarily make investment trusts exempt from complying with these rules after electing that the existing methodology was creating issues for trusts. Speaking at th...