Monthly Archives: March 2013

25Mar 13

Statement on The FCA’s annual risk outlet

Commenting on The FCA’s annual risk outlet and its statement that it has concerns about the use of ‘complex charging structures’ for long-term investment and pension products, Gina Miller, founder of the True and Fair campaign and co-founder of SCM Private said:

“We are delighted the Financial Conduct Authority (FCA) has acknowledged that ‘complex charging structures’ in the investment and pensions industry are an issue that needs to addressed, and which it will look into as part of its 2013 / 2014 plan.

Posted By: True and Fair, 5:16 pm

11Mar 13

UK managers burying £1bn costs in ‘bundled’ commissions

Calculator to show fund value after fees, Financial Times

To read the full article on the Financial Times, please click here.

Posted By: True and Fair, 6:42 pm

11Mar 13

True and Fair Campaign wins MEP’s support for introduction of EU online savings calculator

Concept of online savings calculator to be discussed by European Parliament’s Economic and Monetary Affairs Committee

The True and Fair Campaign (www.trueandfaircampaign.com), which was initiated just over a year ago by British investment manager SCM Private (‘SCM’), has welcomed two amendments to the European Commission’s proposal for regulation on a new Key Information Document.

The amendments were tabled by Sharon Bowles MEP, UK Liberal Democrat and Chairman of the European Parliament’s Economic and Monetary Affairs Committee, and are designed to call on the European Securities and Markets Authority (ESMA) to introduce an online financial calculator.

The True and Fair Campaign has been calling on UK and European politicians, regulators and fund providers to introduce a new labelling system that will give consumers 100% transparency on all transaction costs and management fees and full disclosure on where funds are invested. It believes that an online savings calculator will allow investors to check fees and costs, in percentages and monetary amounts, and to directly compare products between fund providers.

Sharon Bowles MEP, UK Liberal Democrat said, “I am very keen to ensure the highest level of investor protection for European consumers and the full transparency of costs. The introduction of an online fund calculator at European level is a very interesting and thought-provoking idea as it would allow investors to check for themselves, and to directly compare, the information which is provided to them by fund managers. I have tabled amendments on this topic to ensure we will have a thorough debate on it in our Parliamentary committee.”

Posted By: True and Fair, 1:47 pm

10Mar 13

Calculator to show fund value after fees

Calculator to show fund value after fees

To read the full article on the Financial Times, please click here.

Posted By: True and Fair, 5:19 pm