Investment Association response to the invocation of Article 50
Wednesday 29 March 2017
Commenting on the invocation of Article 50, Chris Cummings, Chief Executive of the Investment Association, said:
"Today the Prime Minister has started the clock ticking on the 730 days the UK has to leave the European Union. We know the deadline, but not the deal.
"The asset management industry serves millions of savers in the U.K. and across the globe, and we will work with the Government to help shape a deal that puts their interests first.
"Achieving a post-Brexit deal that is mutually beneficial for the UK and the EU is key to our industry continuing to service its clients across the world. We need a bespoke agreement that hinges on mutual market access, access to global talent, legal certainty and preserving the entirety of the UK’s financial services 'ecosystem'. The Government’s principles, including a priority to manage the evolution of regulatory frameworks to maintain a fair and open trading environment, are the right way to approach the negotiations.
"Businesses also need time to implement and adapt to any changes, to minimise disruption to their customer and client services.
"We will continue to work closely with Government and regulators in the UK and across Europe to support the ongoing negotiation process.”
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For further information, please contact:
Linsey White
Head of Media Relations
[email protected]
T 020 7269 4635
M 07508 724 022
Alex Hogan
Communications Manager
[email protected]
T 020 7269 4620
M 07508 724 066
About the Investment Association:
- The Investment Association is the trade body that represents UK investment managers who manage over £5.7 trillion on behalf of clients
- Our purpose is to ensure investment managers are in the best possible position to:
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- 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.
For further information, please contact:
For media, to receive the full consultation document, please contact Helen Ayres
Helen Ayres, Communications Manager: [email protected]
T +44 (0)20 7269 4620; M +44 (0)7508 724 066
IA press office: [email protected]
About the Investment Association (IA):
- The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the asset management industry supports 100,000 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 35% of all assets managed in Europe.
