Establishment of new Financial Services Forum

Ahead of today’s publication of the Government and FSA response to the Treasury Select Committee’s report “Restoring Confidence in long-term savings” the Investment Management Association (IMA) and Association of British Insurers (ABI) have taken an initiative towards the establishment of a Financial Services Forum, as recommended in the Committee’s report. 

Lindsay Tomlinson, Chairman of the IMA, and Richard Harvey, Chairman of the ABI, have sent a joint letter to interested parties to invite them to a meeting to discuss how best to take forward the Committee’s recommendation for such a Forum.  As the Committee recommended the key focus would be on how the financial services industry could better serve its customers.

Richard Saunders, Chief Executive the IMA said,

“We accept the Committee’s view that there is a need for a mechanism which will better identify current and emerging issues which may affect consumer confidence in the financial services industry.  We hope this initiative will be a first step towards that.”

Mary Francis, Director General of the ABI said,

“The long-term savings industry has show its commitment to work constructively with Government, Regulator and consumers by making this proposal.  We hope they will respond in a similarly positive way.”

-Ends-

For further information, please contact:

Mona Patel, Head of Communications, IMA, 07834 089332

Helen Stephenson, Communications Officer, IMA, 020 7831 0898

Lucy Butler, ABI, 020 7216 7411

Notes to Editors:

1. Those invited to a meeting were: Association of Independent Financial Advisers, British Bankers Association, Consumers’ Association, HM Treasury, Financial Services Authority, Financial Services Consumer Panel, Financial Services Practitioner Panel and National Consumer Council.

65 Kingsway London WC2B 6TD 

Tel: +44 (0) 20 7831 0898 Fax:+44 (0) 20 7831 9975 

www.investmentuk.org 

Investment Management Association is a company limited by guarantee registered in England and Wales Registered number 4343737.  Registered office as above.