FCA Introduces New Cost Disclosure Rules for Investment Trusts
What happened
The Financial Conduct Authority introduced new cost disclosure rules for investment trusts, a move made under pressure from activist investors. The sector has faced challenges from factors including rising interest rates and cost-disclosure issues. The FCA recognized that previous cost-disclosure rules had artificially made investment trusts appear expensive, which had deterred wealth managers from buying them.
From moneyweek.com
Why it matters
The new rules aim to address loopholes that were exposed by shareholder activism. The sector has begun to show signs of recovery, with fundraising picking up in the first half of the year. This includes the Seraphim Space Investment Trust raising £137 million.
From moneyweek.com
Who's involved
- Financial Conduct AuthorityQuasi-governmental agency in the United Kingdom responsible for financial conduct oversight.
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The entities involved
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Financial Conduct Authority
quasi-governmental agency in the United Kingdom
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