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Debate the Live issues

Money Marketing is offering IFAs a unique opportunity to grill the industry&#39s regulators and take part in a lively debate over the future of financial services regulation. With 18 consultations affecting IFAs and a myriad of regulation changes facing the industry, this is your chance to get the lowdown from the decision-makers and key protagonists themselves.

On May 13 at the Money Marketing Live roadshow in London&#39s Olympia, Money Marketing Editor John Lappin will host a panel of regulation experts who will help you find a way through the tangle of consultation papers, legislation and European directives.

The panel includes key industry figures such as the Association of British Insurers&#39 head of life insurance Francis McGee, Berkeley Berry Birch deputy chief executive Stephen Ingledew, FSA director of investment firms division David Kenmir and Aifa director general Paul Smee.

Major issues to be debated include the need for more co-ordination between industry bodies, how to keep up with regulation and why it takes 250 pages to demonstrate that “less is more”.

Ingledew believes the debate will provide IFAs with valuable insight into plotting their way through the regulation minefield. He says: “Regulators are finding more and more issues to deal with and this is creating greater pressure on IFAs. IFAs need to become more effective in dealing with regulation. Most businesses find it difficult to put it all together but it is important that they know how to apply technology effectively to comply with regulation.”

He believes the debate will also be a good forum for discussion about what the new FSA chairman Callum McCarthy means for the industry. He says: “It is dangerous to isolate regulation from general market conditions. What the industry needs is someone who can provide big-picture strategy. I think we are now seeing a general move from prescriptive regulation to more high level schemes but it is important that IFAs come to this debate and make their opinions known.”

McGee believes regulation is essential but needs to be better co-ordinated. He says: “Our customers rely on our financial stability for their livelihoods and we rely on their trust for our strength. The FSA has gained a reputation as being a strong, well regarded regulator – and it is. But the FSA is not the only rule-maker. The Treasury is a most active sponsor, the Department for Work and Pensions is formulating crucial legislation on pensions. we have a powerful ombudsman and the European Commission and Parliament are as powerful and influential as any of their UK equivalents.

“These and other bodies have the potential to impose enormous costs on the industry and all too often they operate as independent entities. We need to ensure that each of them are co-ordinated in the actions, are clear about what they want to achieve and that the benefits of any changes justify the costs.”

Smee thinks there are many questions to be answered. “Why are there so many consultation papers? How will the new menu system shape the IFA market? What will the implications of Europe be on the industry? I am very positive that this debate will help businesses understand what is going on at present.”

Coupled with the live debate, Money Marketing Live is also offering IFAs the opportunity to take part in surgeries conducted by FSA director of investment firms division David Kenmir. This is your chance to meet the regulator face to face, so get your opinions heard and make the most of this unique opportunity.

To find out more phone our 24-hour registration hotline on 0870 7779817 or visit our website at www.moneymarketinglive.co.uk

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