An investigation has been launched into 34 pension and investment companies for failing to meet new rules that force them to disclose the true cost of their funds. This is the first time the City regulator, the Financial Conduct Authority (FCA), has taken action against firms for not adopting rules intended to make it easier for savers to assess and compare the impact of charges on their nest eggs.
It may be worthwhile members checking how much they are being charged by fund managers. The new disclosure rules should make this easier to do now.
Cliff Weight, Director, ShareSoc.