Legal News

AIC urges HM Treasury to include VCTs in the cost disclosure exemption

Published on: 10 October 2024
Published by LNB News

LNB News 10/10/2024

Document Information

Issue Date: 10 October 2024

Published Date: 10 October 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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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