09
Mar
2022

IA responds to updates to the Online Safety Bill

In response to the Government’s announcement to update the Online Safety Bill to protect people from scam adverts online, Chris Cummings, Chief Executive of the Investment Association, said:

“We’re delighted that the government has listened to industry and consumer group calls to tackle fraudulent paid-for adverts on social media and search engines in the Online Safety Bill. Clamping down on these fraudulent adverts will help protect people from losing their hard-earned money to criminals. We hope the Bill will now make timely progress through Parliament without delay.”

For further information, please contact:

Katie Martin, Head of Communications: [email protected]

T: +44 (0)20 7269 4655

IA press office: [email protected]

T: 020 7269 4696

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.