PIMFA Weekly News Bulletin - 28 November 2022

FSCS cuts levy for 2023/24

The Financial Services Compensation Scheme (FSCS) has indicated that their levy for 2023/24 will be £478m.

The forecast for the coming year represents a significant and welcome downward movement, which will come as a significant relief to our member firms.

The FSCS Levy remains a priority issue for PIMFA and member firms and we hope that this is representative of future Levy forecasts, whereby failed firms are wound up in an orderly manner and at no cost to the wider industry. First and foremost however, this reduction represents significantly lower instances of poor outcomes for consumers.

Please contact Simon Harrington with any queries.

The Global Returns Project

PIMFA is pleased to announce it is working with the Global Returns Project (GRP), a UK registered charity accelerating regenerative finance. GRP seeks effective tools for responding to investor concerns about climate change and may prove a useful addition to PIMFA members client’s portfolio.

GRP curates the ‘Global Returns Portfolio’: a selection of diverse, effective, and scalable not for-profit organisations tackling climate change. The portfolio is an alternative investment to Environmental, Social and Governance (ESG) or sustainable funds for clients with a genuine interest in trying to fight the Climate Crisis. World class climate scientists, which make up GRP’s Technical Advisory Board, help curate the Portfolio in the same way as an investment fund, making it easy for individuals to contribute annually alongside other investments. As a charitable donation, such contributions also come with tax benefits for certain individuals.

For more information click here

Latest PIMFA Press Releases

PIMFA welcomes reduction in 2023/24 FSCS levy forecast

PIMFA calls on Chancellor to keep tax reforms under review to incentivise people to save and invest in future

PIMFA welcomes Chancellor’s intervention to bring stability and confidence back to UK financial markets

PIMFA welcomes FCA action to protect prevent harm in the consumer investment market

PIMFA celebrates winners of its second Diversity & Inclusion Awards and previews ‘TIDE’ launch

Code of Conduct for ESG data and ratings providers

The FCA has announced the formation of a Working Group to develop a Code of Conduct for Environmental Social and Governance (ESG) data and ratings providers.

The ESG Data and Ratings Code of Conduct Working Group (DRWG) will be co chaired by M&G, Moody’s, London Stock Exchange Group (LSEG) and Slaughter and May, and will be composed of stakeholders including investors, ESG data and ratings providers, and rated entities.

The International Regulatory Strategy Group and the International Capital Market Association jointly take on the secretariat role. The group will aim to meet for the first time later this year.

PIMFA Press Coverage

Money

Citywire

Corporate

FT Adviser: Advisers on FSCS levy: ‘It is hard not to be cynical’

Wealth Briefing: Investment Managers React To UK Autumn Statement

FT Adviser: FCA admits register in need of further improvements

Upcoming PIMFA Academies in 2023

PIMFA Crypto Academy

PIMFA CASS Academy

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EVENTS & LEARNING

PIMFA TALENT, DIVERSITY AND INCLUSION CONFERENCE

7 December | 09:00 17:30

FREE to attend for Members

PIMFA WEBINAR: SUSTAINABLE FINANCE POLICY: WHERE ARE WE WHAT’S NEXT?

8 December 2022 | 14:00 14:45

FREE to attend

Returning for the first time since 2019, we are delighted to announce the PIMFA Diversity Conference will be taking place in London on December 7.

This event aims to offer attendees fantastic insights into a variety of topics related to TDI and inspire current and future leaders to continue working on creating a truly inclusive and diverse sector.

This event is free for members to attend.

The Government’s ambition is to make the UK a leader in green finance and sustainable investing. Fayyaz Muneer, who leads the team in HM Treasury responsible for green and sustainable finance, will speak about the Government’s green finance policy and set out the latest thinking on key issues sustainability disclosures, ESG ratings, the UK green taxonomy, and transition plans.

For more information and to register, please click here