IA response to the signed MOU on financial services with the EU
Chris Cummings, chief executive of the Investment Association, in response to the signing of the financial services agreement with EU, said:
“The signing of the MOU on financial services is an important milestone. A close partnership between the UK and EU, which recognises the long-shared history of cooperation, is of mutual benefit and will mean a more resilient and dynamic investment management sector across Europe that benefits citizens and businesses wherever they may be located.
“Now the MOU has been confirmed, all focus must now turn to ensuring the Joint Forum on Regulatory Cooperation delivers a pragmatic, forward-looking dialogue focused on finding common solutions to common challenges. This includes encouraging greater retail participation in European markets, promoting international coherence in sustainability-related disclosures, and identifying how the utilisation of new technology can drive innovation across the sector. We look forward to working with HM Treasury and the European Commission in delivering against this goal.”
For further information, please contact:
Helen Ayres, Head of Communications: [email protected]
T: +44 (0)20 7269 4620
Arianna Schardt, Communications Executive: [email protected]
T: +44 (0)20 7269 4625
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 £10 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 37% of all assets managed in Europe.
