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Irish central bank asks EU regulator to probe asset manager fee disclosures

The Central Bank of Ireland has called on the European Securities and Markets Authority to investigate asset managers' disclosure of fees amid mounting concerns that investors are being overcharged, the Financial Times reported Aug. 13, citing a central bank official.

The central bank has completed an 18-month review of the subject.

"In some cases, the disclosure of fees was complex and disjointed and would impede investor understanding," said Grainne McEvoy, acting director of securities and markets supervision at the central bank.

"A regime that is in place for 10 years or more should be examined to see if it is still fit for purpose," she said.