TISA endorses transfer and re-registration consultation
TISA, the investments and savings membership association, is pleased to be a member of the group of industry associations that have today published a consultation on proposals to improve pension and investment transfers and re-registrations.
Carol Knight, Chief Operations Officer at TISA said:
“Enabling customers to transfer assets quickly and efficiently is a long-held belief of TISA. That’s why we established TISA Exchange (TeX) to help facilitate the electronic transfer of wrappers and assets between platforms and providers. We have also been instrumental in helping to bring Cash ISA transfer times down.
“We know that the FCA is taking a keen interest and, as with TeX, would like to see the industry develop solutions itself that improve the transfer and re-registration times for pension as well as investment assets. This consultation identifies five key proposals to improve transfer processes and we urge TISA members to participate in the consultation and provide us with their feedback.”
Ends….
For further information please contact:
Alistair Kellie – Telephone: 0207 680 6558/Email Alistair.Kellie@newgatecomms.com
Sara Neidle – Telephone: 020 7680 6550 / Email Sara.Neidle@newgatecomms.com
Jessica Hodson Walker- Telephone: 020 7680 6538/EmailJessica.HodsonWalker@newgatecomms.com
Email: TISA@newgatecomms.com
Notes for Editors
TISA is a not-for-profit membership association operating within the financial services industry. The focus of our recommendations and actions is improved outcomes for consumers and UK plc with this approach leading to a stronger UK financial services industry.
TISA’s growing membership comprises over 150 firms involved in the supply and distribution of savings and investment products and services. These members represent many different sectors of the financial services industry, including asset managers, insurance companies, fund managers, distributors, building societies, investment managers, third party administrators, consultants and advisers, software providers, financial advisers, pension providers, banks and stockbrokers.
TISA has a successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for the public. Effective policy and regulation and the creation of efficient industry infrastructure continues to be the major focus for our members. TISA is unique in that it represents the entire financial services industry, incorporating cross-sector policy, industry and technical expertise. Whilst we maintain a solid partnership with government, the regulators and wider industry, we remain independent and develop neutral views and opinions. This impartiality is reflected in our ability to drive development projects which improve industry performance and consumer outcomes, putting us in the unique position of being able to constantly challenge the status quo to bring about material improvement.