UK's House of Lords questions FCA's ability to 'protect market stability'

Members of the House of Lords have questioned the Financial Conduct Authority's ability to "protect the market's stability" and called for emergency action from the Treasury. On Monday (13 November), the House debated a private members' bill brought forward by former pensions minister Ros Altmann, which aims to overhaul cost disclosure rules for UK investment companies by removing them from the Alternative Investment Fund Managers Directive (AIFMD) regulation. Altman said the current EU cost disclosure rules, known as PRIIPS, have caused investment trust charges to appear artificially...