It is inevitable that implementing the new regulation that affects asset management companies and their funds and operations will lead to higher costs, but what is less clear is who will pay for it.

Most respondents to Financial News's CEO Snapshot Survey believe that asset managers will bear the brunt of that cost, with an average rating of 3.19 (ranked from 1 to 4, where 1 is "least cost impact" and 4 is "highest"). The end investor is next in line for picking up the tab, with a score of 2.55, followed by funds (2.32) and asset service providers (2.18).