Consumer group backs single fee to tackle fund fraud

FSCP proposes simplified charges for UK asset management funds


A single charge for asset management funds could reduce fraud risk by removing opacity and conflicts of interest, according to a report published this week by an independent panel representing consumer rights.

The report by the Financial Services Consumer Panel (FSCP) addresses the opaque disclosure rules in the asset management sector that expose investors to the risk of fraud from dishonest fund managers.

"Current disclosure rules are seriously deficient because they mask the true costs –

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