PIMFA
11 May 2021
PIMFA welcomes inclusion of the Online Safety Bill in Queen’s Speech but urges Government to include financial harms within the scope of the Bill
PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, welcomes the inclusion of the Online Safety Bill in the Queen’s Speech but calls on the Government to include financial harm within the scope of the Bill.
Tim Fassam, Director of Government Relations and Policy at PIMFA comments: “We welcome the inclusion of the Online Safety Bill in the Queen’s Speech today as part of the Government’s commitment to making the internet safer for all to use. However, we continue to urge the Government to include financial harms within the scope of the Bill in order to achieve this aim and truly tackle criminal content online.
“It is vital that we get the legislation right here, that the legislation covers not just paid for online advertising but other forms of online content such as fake websites and social media profiles. That ministers appear more receptive to including financial harm within the scope of the bill is welcome news and shows the Government has heard our concerns around online fraud and how best to tackle it. We look forward to working constructively with the Government to create a safer internet for all that use it.”
<ENDS>
Notes for Editors:
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
