IMA warns on 'unlevel playing field' post FSA

Although it is generally supportive of the new structure, the IMA believes the focus is too heavily slanted towards the selling of products and not enough on their composition, particularly those issued by banks. Julie Patterson, director, authorised funds & tax at the IMA says: "We welcome the recognition of the agency role of investment managers, which will be supervised by the Consumer Protection and Markets Authority (CPMA). "Investment managers are different from banks and insurance companies. They are not principal risk-takers, were not a cause of the credit crisis and do not re...