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‘Emergency action’ sought by UK lawmakers over investment trusts costs issue

( April 30, 2024, 23:03 GMT | Official Statement) -- MLex Summary: The UK’s Financial Services Regulation Committee has asked the Financial Conduct Authority to take “immediate emergency action” to resolve an issue with how investment trusts are required to disclose their costs, which it says makes them look unduly expensive and is dissuading investment in the sector. The FSRC has written to FCA chief executive Nikhil Rathi with a series of questions and requests, to rectify an issue which the committee says is damaging UK markets and regulation and harming the UK’s international competitiveness.Statement below, letter attached. ...

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