TISA launches Policy Council manifestos
TISA, the financial services membership organisation, is to publish a series of manifestos that outline the key themes each of its policy councils will focus on over the coming months. The move is part of an on-going plan to reinvigorate TISA’s thought leadership capability and to help its members to contribute more effectively to policy debate.
There are currently five policy councils representing: Technology Innovation; Distribution; Wrap & Platform; Retirement and Children’s Savings, with more in the pipeline. The councils operate in tandem with the TISA led Savings & Investments Policy project (TSIP), cooperating on areas of mutual interest such as the pension tax relief consultation, the development of a Digital Passport and guidance.
Current policy themes highlighted in the manifestos include:
• Looking at developing technology innovation across financial services, working closely with regulators and government
• Developing an agreed distinction between guidance and advice and the upcoming Financial Advice Market Review
• Increasing contribution levels for AE through auto escalation with a target of 12%
• Future development, regulation impacts and potential growth of P2P and crowdfunding as an asset class
• Developing an approach for the industry to extend and improve the financial education of young children and their parents.
David Dalton-Brown, Director General of TISA said:
“TISA’s policy councils along with our technical committees and related executive groups have built an excellent reputation for delivering both pan-industry views and practical solutions that benefit consumers and the industry. This is especially important as we develop responses to consultations on pension tax relief, pension transfers and early exit fees, the Financial Advice Market Review and help the market meet the regulatory challenges of MiFID II and Client Assets.
“Our members are asking us to expand our remit to include other aspects of the financial services marketplace. We therefore believe it is important that each policy council develops a manifesto to enable members to focus on the key themes as they see them. Having this discipline will enable us to report on progress, ensure that we pool resources efficiently where issues overlap between councils and allow us to identify and to respond more effectively to government and regulatory consultations.
“The manifestos will be constantly reviewed and revised and are now a standing agenda item for each policy council meeting. A summary of each manifesto is available on our website for non-members to view.”
In August TISA appointed Adrian Boulding as its Policy Strategy Director to head up the development of thought leadership across all policy councils and with a specific focus on coordinating with the recommendations from TSIP.
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Issued on behalf of TISA by Newgate Communications, for further information please contact:Alistair Kellie – Telephone: 020 7680 6558 / Email alistair.kellie@newgatecomms.com
Notes for Editors
TISA is a not-for-profit membership association operating within the financial services industry. We represent the interests of over 147 member firms involved in the supply and distribution of savings and investment products and services.
TISA has a highly successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for consumers. Policy and regulation continues to be the major focus for our members with regard to corporate responsibility.
TISA and its members’ remit is evolving into a clearer focus on pro-active consultation in the regulatory world in order to influence policy and associated regulation before its creation, rather than reacting to issued policy directives. This will help to ensure a more considered policy creation from the authorities.