Once more with feeling: Self-regulation of the asset management industry does not work.
For decades, successive UK regulators have trusted fund managers to get their house in order. Time and time again, the faith they’ve shown in them to do the right thing has proved to have been misplaced.
Now, the Investment Association, the principal UK trade body, has come up with a Draft Cost Disclosure Code. But — surprise, surprise — it’s hopelessly conflicted.
My colleagues at the Transparency Task Force have produced this response to the IA’s document, which includes a plea to the Financial Conduct Authority to write and enforce a code of its own, which genuinely protects the consumer.
Please read and share it:
TTF Respond to the Investment Associations’s Draft Cost Disclosure Code
ROBIN POWELL is a freelance journalist and the founding editor of The Evidence-Based Investor. Based in Birmingham, England, he founded Ember Television and Regis Media, and he specialties in helping disruptive financial firms to grow. He also campaigns for a fair, transparent and sustainable investing industry. You can follow him on Twitter at @RobinJPowell.
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Robin is a journalist and campaigner for positive change in global investing. He runs Regis Media, a niche provider of content marketing for financial advice firms with an evidence-based investment philosophy. He also works as a consultant to other disruptive firms in the investing sector.
