FCA extends hiatus on '10 percent drop' reporting

News Team, 02/10/2020

The Financial Conduct Authority (FCA) has extended the hiatus on 10 percent depreciation reporting for another six months.

The ’10 percent rule’ was one of the controversial aspects of MiFID II, and requires portfolio managers to inform clients where the value of their investment falls by 10 percent or more compared with their last statement. Ordinarily, they must also report any subsequent 10 percent fall in value.

On 31 March, the FCA wrote to firms saying that due to “...

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