PIMFA
15 October 2021
FCA must focus attention on transformation programme following departure of Chair Charles Randell
PIMFA, the trade association for the wealth management, investment services and the investment and financial advice industry, has called on the Financial Conduct Authority to focus its attention on the successful implementation of its transformation programme following the resignation of Charles Randell as Chair this morning.
Liz Field, Chief Executive of PIMFA, commented: “Charles Randell has been Chair of the Financial Conduct Authority (FCA) during what has been a time of unprecedented change and upheaval from Brexit through to the effective regulation of the financial services industry during the Covid pandemic. He leaves his role with our best wishes for the future and our thanks for his calm and thoughtful leadership. The FCA is not perfect, as recent scandals illustrate, and it does need to reform, but Charles has been instrumental in recognising that need for reform and in working to achieve change.
“The FCA should, as Charles himself has said, focus its attention on the successful implementation of its transformation programme, which we hope will see it transition towards a more proactive data-led regulatory approach and achieve many of the aims set out in its recent business plan.”
<ENDS>
About PIMFA – the Personal Investment Management & Financial Advice Association
- PIMFA is the trade association for firms that provide investment management, investment services and advice to everyone from individuals and families to charities, pension funds, trusts and companies.
- The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
- PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies. Associate members provide professional services to the PIMFA community.
- PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
- PIMFA has made numerous recommendations to the FCA regarding the Future of Advice, the Future of Supervision, & the FSCS levy – read more.
- PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
- Further information can be found at pimfa.co.uk
Contact
For further information on this release or other press matters please contact:
Matthew West, PIMFA PR Manager – MatthewW@pimfa.co.uk, +44 (0)20 7382 0376 .
Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk, +44 (0)20 7011 9869 / +44 (0)7979 493225.
