Article summary
The Association of Investment Companies (AIC) is urging HM Treasury (HMT) to include venture capital trusts (VCTs) in draft legislation to exempt investment companies from the requirement to produce packaged retail investment and insurance products key information documents (PRIIPs KIDs).The AIC expressed disappointment that the draft legislation does not include VCTs, saying cost disclosures mandated by PRIIPs and the Markets in Financial Instruments Directive (MiFID) are ‘widely accepted to be misleading’.
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