View more on these topics

Trade bodies in call for international regulatory standards

Global-connections-Globe-World-Map-International-700.jpg

Trade bodies are teaming up with lobbyists TheCityUK to produce a report on international regulatory standards after Brexit.

The report, to be finished by the end of April and carried out by law firm Freshfields Bruckhaus Deringer, will look at firms’ options for international regulations once the UK leaves the EU, and how these will work.

The study is gathering insights from the Investment Ass-ociation, the Wealth Management Association, the British Bankers’ Association and the Association of British Insurers, among other bodies.

WMA deputy chief executive John Barrass says: “We’ve supported for a long time the idea of how a set of international regulatory arrangements would work. Because we’ve been in the EU, we’ve always taken a shield behind the regional element; suddenly we’re not going to have that any more. We have to re-commit and create international standards, and in a good way with political power behind that and not just technical talk.

“Being outside the single market will put greater emphasis on the international standards that all the regions agree to.”

TheCityUK recently said the financial industry could lose £38bn if the UK were to quit the single market.

TheCityUK chief executive Miles Celic says:“Since the UK’s decision to leave the EU, TheCityUK has been considering its implications for the UK-based financial and related professional services industry – the challenges and the opportunities it may bring – and providing these insights to Government to assist with their preparations for the Brexit negotiations.

“As part of this programme of work, Freshfields Bruckhaus Deringer is undertaking some detailed analysis to examine the possible legal impact of Brexit on the industry. This will build on our already substantial evidence base that seeks to demonstrate how the industry can continue to play a key role in contributing to and underpinning future prosperity and success across the UK.”

Recommended

Social-Networking-Technology-Organisation-Chart-700x450.jpg

New financial trade body elects chairman

A new trade body that will merge six existing organisations has nominated a chairman to lead the group. The British Bankers Association, Payments UK, Financial Fraud Action UK, the Asset Based Finance Association and the UK Cards Association and the Council of Mortgage Lenders, are set to be replaced by a mega-trade body currently under the working […]

Currency-Money-Coins-GBP-Pounds-700.jpg

Trade bodies propose new investment transfer rules

Eight investment and pensions trade bodies have set out plans to change the way investors can transfer assets between different pensions and investment providers. The group, which includes Apfa, The Association of British Insurers and The Investment Associatio, has held discussions with the FCA, Department for Work and Pensions and The Pensions Regulator over its proposals. […]

3

An adviser trade body’s “new deal” for IFAs

The last 20 years has seen plenty of regulatory change. Each initiative has expanded the influence, cost and invasiveness of regulators without any demonstrable increase in the protection of consumers. With the number of consumers seeking advice dropping from 23 million to 8 million since the RDR, the Government has tried (and failed) to fill […]

NATIXIS PORTFOLIO CLARITY – UK Portfolio Barometer

Natixis Global Asset Management’s quarterly Portfolio Barometer offers insights into UK financial advisers’ model portfolios and the allocation decisions they are making. Natixis’s Portfolio Research & Consulting Group works with financial advisers and other intermediaries to analyse and enhance their model portfolios and help them develop investor portfolios suited to today’s complex markets. The Portfolio […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Silly billies should have voted remain then.

  2. And right there my friends, is a flock of sheep gathered around a table making something that really is quite simple, very complicated.

Leave a comment

Close

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

Email: customerservices@moneymarketing.com