Watchdog FCA tells asset managers to review cost disclosures

© Reuters. FILE PHOTO: The logo of the new Financial Conduct Authority is seen at the agency’s headquarters in the Canary Wharf business district of London

LONDON (Reuters) – Asset managers are not calculating transaction costs or disclosing them properly to investors and should review their procedures, Britain’s Financial Conduct Authority (FCA) said on Thursday.

“Asset managers should review their cost disclosures to ensure that they are clear, fair and not misleading,” the FCA said in a statement.

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