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Fund managers get another reprieve on 10% drop reporting rules
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Fund managers have been given another reprieve by the regulator, as rules requiring them to tell clients when their portfolios drop by more than 10% have been suspended again.
In the wake of Covid-19 induced market volatility at the start of the pandemic, managers complained that the rules were placing an undue burden on them, as clients received a barrage of notifications telling them that they were making double-digit losses.
The...
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