December 2020
Starting from:
£99 + VAT
Format: DOWNLOADABLE PDF
***Full-scale policy conference taking place online***
This conference will examine options being considered for regulatory reform of the investment management sector in the UK.
Bringing together stakeholders with key policymakers, it comes at a time of increasing scrutiny of:
- governance, transparency, and the conduct of firms and advisers
- the role of regulators and consumer protection agencies
With the landscape after the end of the transition period, the discussion is bringing together stakeholders with key policy officials who are due to attend from HM Treasury; HMRC; UK Government Investments; DWP; DIT; the Development Bank of Wales; and The Scottish Government.
The discussion at a glance:
- retail investment markets
- outlook and industry priorities for encouraging retail investment - in light of increasing activity from retail investors in UK markets, particularly among younger generations
- high-risk bonds - the impact of the FCA’s permanent ban on their sale to retail investors, following the collapse of investment firms leading to significant investor losses
- policy and regulation - options for improving performance, and increase returns for firms and consumers, and protection for consumers and institutional investors when funds collapse
- capital markets
- future performance - implications for development of policy and regulation to increase and broaden investments to support economic recovery
- investor attitudes - implications of changing sensibilities and other current trends
- the future market position of newer options such as sustainable investment and green finance, and patient capital
- risks - mitigating the impact of uncertainties such as the UK’s post-Brexit positioning, low interest rates, climate change, the pandemic, economic slowdowns, and trading and tariff policies
- The Stewardship Code:
- effectiveness - whether its measures should be compulsory, and the pressures that reforms will place on firms
- advice - priorities for ensuring that retail investors aren’t misled or receive confusing guidance, including the role of the sector and online platforms
- The Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR):
- development of the market - assessment of the future and ensuring that it meets consumer needs
- the Review findings - and the impact on the market, ahead of the FCA’s long anticipated evaluation of the Reviews which have been delayed due to the pandemic
- innovation:
- uptake in the financial advice sector - assessing the response to initiatives, as the FCA brings forward plans to pilot a digital sandbox to support innovative firms with developing products to tackle scams and fraud, in order to protects vulnerable consumers, and access to finance for SMEs during the pandemic
- new opportunities - including interconnected adviser software systems, and platforms for virtual interaction with clients
- diversity and culture
- the impact of the Senior Managers and Certification Regime
- next steps - enhancing diversity and the culture in the sector, and improving the pipeline of diverse talent
The agenda:
- The future for the retail investment market in the UK and the impact of COVID-19
- Investment market performance and preventing fund failure - value for money, adapting to consumer trends, and protecting investors
- Key issues for governance, transparency and culture
- The framework for effective stewardship and implementing the revised Stewardship Code
- Adapting to the changing market for financial advice - regulation, innovation, addressing the advice gap, and meeting the added demands brought about by the pandemic
- Next steps for the regulation of retail investments
Developments that are relevant to the discussion:
- continuing Brexit uncertainty - with industry concerns about
- the future of delegation which will be addressed in European Commission reform proposals expected in the spring, and could lead to many fund management jobs being relocated to the EU at the end of the transition period
- proposed changes to the EFAMA constitution, which are expected to limit the influence of non-EEA member and marginalise he UK industry post-Brexit
- Financial Services Bill introduced - with significant changes to the legislative and regulatory framework for financial services following the UK's departure from the EU aimed at maintaining high standards and provide greater clarity to firms and reform of the investment firms prudential regime
- the UK Stewardship Code review of early reporting - from the FRC emphasising more needs to be done to meet higher standards for transparency
- FCA seeks views on how to improve the consumer investment market - looking at improving access to guidance for how to invest, improving competition whilst ensuring investors understand risks, and are protected from scams
- Financial Services Future Regulatory Framework Review - with government’s response and introduction of the Financial Services Regulatory Initiatives Forum, and the Regulatory Initiatives Grid
- the new Audit, Reporting and Governance Authority - following the Kingman Review, with more powers on transparency and audit standards
- FCA initiatives - affecting investments in illiquid assets, dual-class structures, and reporting requirements for new start-ups, to encourage more international firms to list and launch IPOs in the UK
- the Regulatory Initiatives Grid - which aims to improve co-ordination between government and regulators impacted by the Financial Services Future Regulatory Framework Review
- COVID-19:
- the impact of the pandemic on the UK economy
- limited opportunities for shareholder engagement with the exclusion of many retail investors from company AGMs
Policy officials attending:
Our forums are known for attracting strong interest from policymakers and stakeholders. Places have been reserved by officials from HM Treasury; HM Revenue & Customs; UK Government Investments; DWP; the Department for International Trade; the Department for Transport; UKGI; the Development Bank of Wales; and The Scottish Government. Also due to attend are representatives from Ashlea Financial Planning; Fried Frank; FSTP; ICAS; Imperial College London; Lloyds Banking Group; Prime; RateSetter; ShareSoc; Smart Pension; The Wisdom Council; Threesixty Services; Travers Smith; Wedlake Bell and Wesleyan.
This is a full-scale conference taking place online***
- full, four-hour programme including comfort breaks - you’ll also get a full recording to refer back to
- information-rich discussion involving key policymakers and stakeholders
- conference materials provided in advance, including speaker biographies
- speakers presenting via webcam, accompanied by slides if they wish, using the Cisco WebEx professional online conference platform (easy for delegates - we’ll provide full details)
- opportunities for live delegate questions and comments with all speakers
- a recording of the addresses, all slides cleared by speakers, and further materials, is made available to all delegates afterwards as a permanent record of the proceedings
- delegates are able to add their own written comments and articles following the conference, to be distributed to all attendees and more widely
- networking too - there will be opportunities for delegates to e-meet and interact - we’ll tell you how!
Full information and guidance on how to take part will be sent to delegates before the conference
