andrew bailey is the boss of the financial conduct authority. andrew, thank you forjoining us. what do you want to see happen in regards to fees? we think it is important that there is sensible and clear disclosure of the fee element so that investors know, essentially, what they are paying and what they are purchasing. this does divide into at least two elements. there is an element of fixed fees for all funds and then for those funds that are active and transacting, there will be transactions costs. there will be for all funds but for active funds more of that as we have tried to design that take account of that, both the fixed element and the variable element, to give greater transparency. one of the things you talk about is an all—inclusive fee, or rather an all in fee. a lot of critics are saying that what you should be having is a fee that is all—inclusive, a flat fee, so that people know what they are getting into when they are going in. what we think is that there is an element of fee that is fixed and therefore, in a sense, that can be treated as as near to a flat fee

but still getting heavier pockets and bailey's crossroads getting a break. threw upper marboro where over andrew a linger are storm for a while and really pounding down with a lot of light eping. here south clip ton and buoy seeing activity and annapolis as well. you'll see some of few hours before a bit of break. but it's still a sprinkle here and there in the overnight showers that linger into the morning before we start all over again. coastal flood advisory until noon tomorrow for st. mary county and we will have issues at high tide. let's take a look at future cast for you. here we are now. but by the time we get to midnight as i said things start to kind of improve a bit. so we'll have some rain here to the south of us and to the north mason dixon seeing storms and same story here southwest and we get a break until the morning hours and light rainfall here and there spotty in nature and start to pick up again. looking at heavier rainfall and even chance of storms by the time we get to late afternoon hour. so we can't rule it out 1 0 0% up stability lingering into the atmosphere tomorrow an