Transparency Task Force Response to the Investment Association’s Draft Cost Disclosure Code

This document has been put together by members of the Transparency Task Force (TTF) to
provide comment on the Draft Cost Disclosure Code that has been produced by the
Investment Association (IA).

The IA’s Draft Cost Disclosure Code has been of great interest to our community because
the lack of transparency on costs and charges in investments is considered a major problem
area, for all the reasons expressed by the Financial Conduct Authority (FCA) in their work on
Transaction Costs in Workplace Pensions (CP 16/30) and their Asset Management Market
Study.