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By Paul Cummins FCCA AITI MSc.Multimedia Systems 9 November2004

UK Financial Services Forum

In October 2004, ahead of the recent publication of the UK 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. 

There are a number of graphics on the website in the Financial Services Regulation section,depicting the market timing scandals in the US.

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.”

The Financial Services Forum will be watched with interest