Wealth management trade organisation PIMFA has urged regulators to provide “unambiguous and detailed provisions” on firms’ MIFID II disclosure requirements if there is “any hope” of it being applied consistently across the industry.

In a response to the European Securities and Markets Authority’s (ESMA) call for evidence on inducements and costs and charges disclosure requirements under MiFID II, PIMFA outlined its concerns about the requirements’ complexity.

While ESMA suggested certain difficulties identified with the current regime can best be addressed through further rules and mandated presentation fo...