On-line financial services providers have formed a trade association to boost the profile of internet trading behind a regulator-approved kitemark.
The group, which is encouraging IFAs with websites to join, has been given the working title the Online Finance Association and has attracted groups including Pru, L&G, BT, Pro-Share, Barclays, AOL and Interactive Investor.
OFA has a brief to produce a code of conduct which will scrutinise on-line advertisements to weed out unscrupulous traders. It will also lobby Government on e-commerce strategy. The group's founding members have been in constant dialogue with the Financial Services Authority internet practice division.
It is hoped the new body will be officially launched in the autumn.