PIMFA
22 October 2020
PIMFA welcomes first reading of Financial Services Bill
PIMFA, the trade association for the wealth management and financial advice industry, welcomes the introduction of the Financial Service Bill for its first reading in the House of Commons on Wednesday.
Tim Fassam Director of Government Relations and Policy at PIMFA commented: “Any move to safeguard the continued success of the UK’s Financial Services industry and our place as one of the world’s leading financial centres is always welcome. It is particularly welcome that the Government is seeking to limit any disruption to the free flow of capital markets while at the same time seeking to maintain the UK’s world leading prudential standards as we prepare for life outside the single market on 1 January 2021.
“We will be studying the bill in detail and is keen to continue to work with Government. the Regulator and all other stakeholders to create an effective financial series regulatory regime that balances the needs of consumers and our industry alike.”
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Notes for Editors
About PIMFA – the Personal Investment Management & Financial Advice Association
· PIMFA is the trade association for firms that provide investment management and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
· The sector currently looks after £1.5 trillion in private savings and investments and employs over 55,000 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.
· You can read PIMFA’s positions on FCA Supervision in its Future of Supervision white paper.
· 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 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 www.pimfa.co.uk
· To become a member of PIMFA for access to training, benefits and discounts, please visit https://www.pimfa.co.uk/become-a-member or contact us directly at membership@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
