IA responds to the FCA's update on enforcement transparency proposals
Responding to the FCA's update on the enforcement transparency proposals, Chris Cummings, CEO of the Investment Association commented:
"We are extremely pleased the FCA has listened to industry concerns and agreed to drop the proposed changes to when regulated firms under investigation are named, instead refining the exceptional circumstances test as we recommended. It is vital that the UK remains globally competitive and attractive for investors and today's decision from the FCA demonstrates its willingness to deliver on its secondary objective to secure UK competitiveness. We will continue to work with the FCA in support of their objective to improve the speed and transparency of enforcement action."
For further information, please contact:
Helen Ayres, Head of Communications: [email protected]
T: +44 (0)20 7269 4620
Ellen Hodgetts, Communications Manager: [email protected]
T: +44 7548841289
IA Press Office: [email protected]
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £9.1 trillion of assets and the investment management industry supports 126,400 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 37% of all assets managed in Europe.
