FCA Proposes Simpler UK Investment Cost Disclosures

The Financial Conduct Authority proposed changes on 2 July to simplify how UK platforms, advisers and wealth managers communicate the costs of investing.

The proposal would align investment cost disclosures with the Consumer Composite Investments regime and require distributors to present their own costs alongside product costs when selling investments. The FCA said firms would also need to account regularly for the total cost of investing, including disclosures around fees and interest paid on client cash.

The regulator said its review of current pre-sale disclosure documents found that only a small share were written in plain English. The consultation is open until 21 August 2026, while the broader CCI rules are due to apply from June 2027.

Why it matters

Cost disclosure directly affects how traders and long-term investors compare platforms, funds and advised services. Clearer presentation of product costs, distribution costs, advice charges and client-cash treatment could make broker and platform comparisons less dependent on dense documents that many customers never fully parse.

For brokers and platforms, the proposal may require changes to account pages, order journeys, pre-sale documents and periodic reporting.

What to watch next

Watch for responses from UK investment platforms, wealth managers, fund groups and consumer bodies before the 21 August deadline. The final rules will matter most where firms combine product charges, platform fees, advisory costs and cash-interest practices in one customer journey.