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ARTICLE · 27 DECEMBER 2023

Investment Management Update - December 2023

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Welcome to the latest edition of our investment management update. This publication has been tailored to highlight topical news, cases and changes...

European UnionFinance and Banking
Lora Froud
Lora Froud
Alexandra Green
Alexandra Green
Michael Sholem
Michael Sholem
Gavin Haran
Gavin Haran

Welcome to the latest edition of our investment management update. This publication has been tailored to highlight topical news, cases and changes in the law impacting the investment management sector.

UK

  • On 30 November 2023, the FCA issued a statement on the disclosure of costs and charges under PRIIPs, MiFID II and the UCITS regulations. The FCA will give firms the flexibility to disclose a breakdown of the aggregated costs that must be disclosed to retail investors. While this is a short-term measure, the FCA has committed to review the usefulness of aggregated cost disclosures and reforms are expected to be announced before the end of this year. Due to the FCA's revision of their position, the Investment Association has revised its guidance in relation to investment trusts, removing its statement that managers should aggregate the costs of underlying unit trusts in the ongoing charges figure.

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