The True and Fair Code & Labeling Scheme
The True and Fair Code is designed to establish best practice in the savings and investment industry, to restore consumers’ trust and to urge the industry to treat clients with respect by:
- Generating a new gold standard of best practice
- Enable consumers to compare products and providers on a like-for-like basis without hidden costs or fees
- Make companies accountable by forcing full disclosure of all holdings within any investment fund, online, on at least a quarterly basis
- Help consumers make better informed investment decisions
- Create a truly competitive investment management sector
- Limit the possibility of future mis-selling or financial scandals through greater transparency
- Detail a model to deliver fundamental change in the investment management industry
The True and Fair Code
Company XYZ commits to providing clients with a full breakdown of all fees incurred during the investment of their money, including management fees and all underlying costs or charges.
Company XYZ commits to providing clients with a full online breakdown of all holdings held directly as well as indirectly (e.g. individual assets held as collateral against securities lent out), together with a full percentage breakdown, no more than three months out of date – wherever possible as at last night’s close.
Posted By: True and Fair, 2:00 am