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​Asset managers need evidence of flaws to win cost-disclosure changes, Maijoor says

( March 21, 2018, 21:24 GMT | Official Statement) -- MLex Summary: Asset managers would need to show  “concrete flaws” in the cost-disclosure rules for packaged retailed investments, to win any changes to them, said Steven Maijoor, chairman of the European Securities and Markets Authority. In remarks to a fund-industry group, he also defended a proposal to boost ESMA’s role in pushing national regulators to align practices, and to bolster the agency’s funding with industry levies. Maijoor also reiterated a warning that companies preparing for Brexit can’t set up empty entities remote-controlled from abroad, while adding that “to us delegation is not a dirty word.”The following is an excerpt, published by ESMA. See the full text of the prepared remarks attached below....

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