Cost disclosure quietly becomes a data problem.

The FCA’s move to consolidate cost disclosure under the CCI regime looks like tidy-up. Underneath, it changes who owns the numbers.

On 2 July 2026 the FCA published CP26/24, Simplifying Consumer Investment Disclosures. On the surface it reads as housekeeping: align the cost-disclosure requirements derived from MiFID with the incoming Consumer Composite Investments (CCI) regime, and consolidate the rules across MiFID, IDD and non-MiFID investments business into one framework. Fewer overlapping regimes, clearer information for consumers. Hard to argue with.

The interesting part is what consolidation asks of firms. Today, many managers maintain separate cost logic for each disclosure regime- different calculations, different presentations, often different owners inside the business. Bring those together under a single CCI-aligned standard and the question stops being “which template do we fill in?” and becomes “where does the authoritative cost figure live, and how do we produce it consistently across every product and channel?”

That is a data problem, not a compliance-team spreadsheet exercise. And it is a recurring one. Cost figures move; products change; the disclosure must be right every time, not once. A consolidated standard is only as good as the pipeline feeding it – which is precisely the part that tends to be held together with manual reconciliation and institutional memory.

For firms, the sensible response is to stop thinking of cost disclosure as an output and start thinking of it as a mastered data set – one authoritative source, consistent logic, multiple compliant outputs. That is the shift CP26/24 quietly forces, and the firms that make it early will spend the CCI transition improving their data rather than firefighting their disclosures.

At iQuant, this is the kind of problem our Platform exists for: mastering the underlying cost and product data once, and producing consistent, regime-aligned disclosure from it. If CP26/24 has your team asking where the authoritative number really lives, that is the right question and a good place to start.