View more on these topics

Apcims calls for FSA to halt new regulation initiatives

In the 12 months following the introduction of Mifid the FSA has issued 4,114 pages of regulation information to firms, much of which is “unjustifiable”, according to Apcims.

Ahead of the Mifid one year anniversary conference in Brussels, Association of Private Client Investment Managers and Stockbrokers chief executive David Bennett is calling for a halt to new regulatory initiatives.

Bennett says: “We fully recognise the need to protect investors and to open up the European market. However Mifid should have been the last word in regulation.

“Mifid has been expensive to implement with no discernable benefits for firms or clients. It needs to be given time to bed down, yet a steady flow of regulatory initiatives from the FSA continues to buffet our industry. These initiatives are not required by EU legislation and come at a time when businesses should be focused on core activities.”

Bennett says much of the FSA guidance is not subject to consultations or cost benefit analysis, making it expensive and unjustifiable.

He says: “On the first anniversary of Mifid we are calling for less regulatory initiatives. Our message is ‘let Mifid bed down’ before introducing anymore burdens on our industry.”


Fleet becomes MD at Skipton FS

Skipton Financial Services has appointed ex-AWD Moneyextra managing director Mark Fleet as its managing director. Fleet replaces Simon Holt who left the advisory arm of Skipton Building Society in June.

Tree - thumbnail

The politics of healthcare

Healthcare is already one of the key battlefields in May’s general election, with each of the main parties committing to deliver improvements to the NHS and public health.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm