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IA comments on the outcome of the Meaningful Vote

January 15 2019

Commenting on the outcome of the Meaningful Vote, Chris Cummings, Chief Executive of the Investment Association, said:

“It is extremely disappointing that after such long negotiations the Brexit uncertainty continues.

“It is critical that every effort is made to avoid a no-deal exit from the EU, and the potential cliff-edge effects that this could bring. While asset managers have been working on no-deal contingency plans for a long time and are prepared for this scenario, it still remains the least desirable option for our industry, and for the millions of people who entrust us with their pensions and savings.

“It is imperative that the regulatory co-operation agreements are finalised so that firms can plan with certainty and the savings of millions of people in Europe can continue to be invested wisely and managed across borders. Given the uncertainty that today’s result brings, firms will continue to keep their no-deal contingency plans under review.”

-ENDS-
Notes to Editors

Helen Ayres, Media Relations Manager: helen.ayres@theia.org
T +44 (0)20 7269 4696
M +44 7508 724066

About the Investment Association (IA):
The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the asset management industry supports 100,000 jobs across the UK.

Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers. Our purpose is to ensure investment managers are in the best possible position to:

  • Build people’s resilience to financial adversity
  • Help people achieve their financial aspirations
  • Enable people to maintain a decent standard of living as they grow older
  • Contribute to economic growth through the efficient allocation of capital.