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News from PIMS 99 – On-line financial services providers form trade body


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&#39s 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.





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