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The boss of Britain's new financial regulator today promised a crackdown on excessive fund charges. Martin Wheatley, managing director of the Financial Services Authority (FSA) which will next year be swept away and replaced by the Financial Conduct Authority (FCA), signalled a 'renewed focus' on how fund managers treat their customers. The impact of charges is 'something that we and the industry need to address,' he told the FSA Asset Management Conference in London. The issue of fees has surged up the political agenda in recent months after a series of reports shone a light on the true cost to investors of using funds - and the impact this has on their returns. The typical unit trust applies a fee of 1.7 per cent, which costs an investor £170 each year on a £10,000 Isa.....Read more here: Will fund charges finally fall in 2013? Financial watchdog promises fresh assault on rip-off fees
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