Chris Sier, the transparency campaigner who has proved one of the most tenacious and effective critics of the asset management industry, has been recruited by the Financial Conduct Authority to chair its new working group on fee disclosure.

The move is a follow-on from the FCA's market study into the asset management market, which published its conclusions in June. The new working group is aimed at driving "more consistent and standardised disclosure of costs and charges to institutional investors", according to a statement today from the regulator.