Fund managers await clarity on cost disclosure rules
European rules requiring greater disclosure of portfolio costs could apply to fund managers sooner than expected if regulators decide to clear up inconsistencies in existing sets of proposals
As it stands, the second Markets in Financial Instruments Directive (Mifid II) from the European Securities and Markets Authority (Esma) will require investment firms to disclose all costs, ranging from ongoing charges to research fees and detailed transaction costs, as of January 3, 2017.
These proposals were first announced early last year, and then confirmed in final technical advice released in December.
Mifid II requirements themselves do not currently apply to Ucits funds, with greater
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