On 7 November 2018, the FCA announced that is has launched its Cost Transparency Initiative (CTI). The CTI is an independent group working to improve cost transparency for institutional investors with the responsibility for progressing the work already undertaken by the Institutional Disclosure Working Group (IDWG).

The CTI was recommended as part of the IDWG’s report to the FCA on 15 June 2015, and intends to:

• provide a clear voice for the interests of asset owners as cost transparency is improved;
• run a pilot phase to test the new cost transparency templates and supporting technical and communications materials until January 2019; and
• following the pilot, roll-out the templates to the asset management and pensions industries to encourage fully transparent and standardised cost and charge information for institutional investors.