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UK managers demand supportive regulation
26 July 2011
The danger is that even the most well-intentioned measures may result in adverse consequences, according to the Investment Management Association
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Investment Management Association
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The asset management industry is calling for UK authorities to ensure a supportive regulatory and competitive environment that will benefit end investors, according to the Investment Management Association (IMA)
In the ninth annual asset management survey, 70% of respondents said the volume and appropriateness of new regulation hitting the industry is a key concern.
While the industry welcomes effective regulation, the danger is that even the most well-intentioned measures may result in adverse consequences, which could damage the long-term needs of investors.
A particular concern is the impact overbearing regulation might have on competition. The principal risk is that firms may choose to focus future expansion plans outside the UK. Richard Saunders, chief executive of the IMA commented: “While the industry has ridden through the financial crisis well, it finds itself at a strategic crossroads. The mood among firms is generally reflective, as they consider how to confront new challenges...
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