View more on these topics

Turner Review: Aifa warn against stifling economic recovery

The Association of Independent Financial Advisers has warned that an “overly robust regulator” could stifle an economic recovery.

Responding to the Turner Review, Aifa director general Chris Cummings has cautioned against the rushed implementation of additional regulation.

He says: “In a global profession we should not underestimate the impact and consequences of altering capital and regulatory requirements for the banking sector.

“Aifa believes that there could be the risk of an overly robust regulator stifling an economic recovery and creativity in the financial markets. We should be particularly mindful of introducing reforms in this country without agreement and consensus at both a European and global level. Without this then the financial services industry in the UK could be placed at a real competitive disadvantage.”

Cummings says the FSA must be mindful that any regulatory changes do not adversely affect other sections of the industry.

He says: “We will study these proposals in detail to ensure they provide the best outcome for the IFA profession, the wider industry and most importantly consumers.”

Recommended

Advisers are urged to check collateral risk

Advisers should look at whether issuers of capital-protected structured products are covered by collateral arrangements when gauging risk, warns Schroders structured investments manager John Teahan.

Investment Forum

Position Portfolios for a Changing China, Accelerating Disruption and More Political Discourse Is China an asset class? Why Investors’ Understanding of China is Changing How is disruption changing the way we invest? Established Ways of Doing Business Are Being Challenged What to Watch: Why politics matters more than ever in 2017 Key takeaways: Despite volatile […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    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