Gregory Campbell – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gregory Campbell on 2014-04-28.

To ask Mr Chancellor of the Exchequer, if he will review the level and practice of undeclared costings charged by financial institutions to private investors on open-ended investment trusts and other products.

Andrea Leadsom

The Government is aware of the impact that costs can have on investment returns. While there are currently no plans for HM Treasury to undertake a review the Government is working with the Financial Conduct Authority (FCA), which regulates the disclosure of fees and expenses in accordance with existing regulation.

The FCA has conducted a review on the clarity of fund charges within the current regulatory framework to ensure costs are clearly set out to consumers. It will publish its findings in quarter 2 2014. The FCA has also worked closely with the Treasury to shape future European legislation which will improve the disclosure of fund charges across Europe.